0.46%SPY 123.61 0.34%XLF 21.23 
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MINNEAPOLIS - MoneyGram International Inc. said Tuesday it has finished a transaction that could hand over 79 percent of its common shares to new investors.
| MGI | 1.86 |  -0.08 |
The money-transfer company got itself into trouble by losing hundreds of millions of dollars on investments in subprime mortgage-backed securities and collateralized debt obligations, or CDOs.
MoneyGram said affiliates of Thomas H. Lee Partners and affiliates of Goldman, Sachs & Co. bought $760 million of special shares, which they can convert into 79 percent of the common equity of the company at $2.50 per share.
MoneyGram also got a $500 million loan from affiliates of Goldman Sachs.
MoneyGram had originally agreed to hand over 63 percent of the company to its new investors at $5 a share, but on March 11 it had to sweeten the offer after Moneygram failed to comply with the original terms.
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