February 15, 2017 / 3:02 PM / 6 months ago

BRIEF-Goldman Sachs to make equity investment in MDC Partners

Feb 15 (Reuters) - MDC Partners Inc

* Goldman Sachs to make equity investment in MDC Partners

* $95 million convertible preference shares investment strengthens mdc partners' balance sheet

* $10 conversion price represents a 48% premium to 30-day average closing price of $6.75 per share

* Has entered into a definitive agreement with an affiliate of merchant banking division of Goldman Sachs

* Expects to use net proceeds to pay down existing debt under company's credit facility and for general corporate purposes

* Upon completion of transaction, Goldman Sachs will own approximately 15% of outstanding equity of company

* Bradley gross, a Managing Director in merchant banking division of Goldman Sachs, will join MDC Partners board, which will expand to 7 members Source text for Eikon: Further company coverage:

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