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

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

7:01 AM, 12th February 2013
Onex to sell 50 pc stake in RSI Home Products for $323 million

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.

© WOC News 



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

RIL plans maintenance turnaround at Jamnagar refinery

MUMBAI, INDIA: Reliance Industries Limited (RIL) has scheduled a planned maintenance turnaround of one crude distillation unit of its SEZ refinery at ...

Read more
Celanese appoints Ed Galante to board of directors

DALLAS, US: Celanese Corporation has elected Ed Galante to the company’s board of directors. Galante is a former Senior Vice President, Exxon ...

Read more
Explosion at Air Liquide’s Texas plant kills one

TEXAS, US: An explosion at Air Liquide’s La Porte plant, Texas, US, killed one employee and left another seriously injured. The blast, which occ ...

Read more
New fluorescent probe developed to detect caesium contamination

IBARAKI, JAPAN: Researchers in Japan have developed a way to detect caesium contamination on a scale of millimetre enabling the detection of small are ...

Read more
Solvay to increase global derivatized guar capacity by 40 pc

BRUSSELS, BELGIUM: Solvay has finalized plans to increase its global derivatized guar production by 40 per cent with the completion of recent expansio ...

Read more
OriginOil, WeFeedUs to test water decontamination and algae harvesting technologies

LOS ANGELES/CARLISLE, US: OriginOil has agreed to develop a cooperative partnership with WeFeedUs, a Carlisle, Pennsylvania-based aquaculture company, ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X