Warburg Pincus to sell Scotsman Industries for $575 million: WSJ
(Reuters) - Private equity firm Warburg Pincus WP.UL has agreed to sell Scotsman Industries Inc to Italian food service equipment firm Ali Group for about $575 million, the Wall Street Journal reported, citing people familiar with the deal.
Warburg, which bought the ice machine maker in 2009 for $160 million, made back its investment in Scotsman before the sale, collecting about $200 million in dividend payments, the Journal said. (link.reuters.com/cew73t)
Officials at Warburg Pincus were unavailable for comment outside regular business hours.
(Reporting By Vrinda Manocha in Bangalore; Editing by Matt Driskill)
- Tweet this
- Share this
- Digg this
- Boxer Sarita Devi faces action after refusing medal at Asian Games
- New NATO leader offers olive branch to Russia
- Brookfield wins Revel Casino auction, but loser vows to fight
- Billionaire Detroit business leader says "blight is like a cancer"
- CANADA STOCKS-TSX fall gets deeper as financial, energy shares drag