Onex to sell 50 pc stake in RSI Home Products for $323 million

7:01 AM, 12th February 2013

TORONTO, CANADA: Onex Corporation and its affiliates announced an agreement to sell their 50 per cent interest in RSI Home Products to the company for proceeds of approximately $323 million. The transaction is expected to close by the end of the first quarter and is subject to customary closing conditions, including a financing condition for the benefit of RSI.

Upon completion of the transaction, the Onex Group will have received proceeds of approximately $471 million, including prior distributions, which will result in a multiple of invested capital of approximately 1.5 times and an 11 per cent rate of return. Onex’ portion of the proceeds would be approximately $186 million, including the prior distributions.

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