The U.S. is set to record a net $6.2 million from its sale of 2.9 million warrants to purchase common shares of Boston Private Financial Holdings Inc. (BPFH), the Treasury Department said Wednesday.

The sale of the warrants, expected to close Monday, will allow the government to dispose of the remaining stake in the Boston financial services company it obtained through the Troubled Asset Relief Program, or TARP.

Deutsche Bank Securities is the sole book-runner in the deal. The warrants are priced at $2.20 each.

"These proceeds provide an additional return to the American taxpayer from Treasury's investment in the company beyond the dividend payments it received on the related preferred stock," the Treasury Department said.

The government is steadily winding down its TARP holdings. Last week, it conducted an auction of 465.1 million warrants of Citigroup Inc. (C).

-By Jeffrey Sparshott, Dow Jones Newswires; 202-862-9291, jeffrey.sparshott@dowjones.com
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