February 13, 2018 / 12:47 PM / 5 months ago

BRIEF-Clayton, Dubilier & Rice To Acquire Majority Interest In American Greetings

Feb 13 (Reuters) -

* CLAYTON, DUBILIER & RICE TO ACQUIRE MAJORITY INTEREST IN AMERICAN GREETINGS

* CLAYTON, DUBILIER & RICE SAYS TERMS OF TRANSACTION WERE NOT DISCLOSED

* CLAYTON, DUBILIER & RICE - UPON CLOSE OF DEAL, JOHN BEEDER, CURRENT PRESIDENT AND CEO, WILL BECOME CHIEF EXECUTIVE OFFICER

* CLAYTON, DUBILIER & RICE SAYS WEISS FAMILY TO RETAIN 40 PERCENT OWNERSHIP STAKE IN AMERICAN GREETINGS

* CLAYTON, DUBILIER & RICE - CD&R-MANAGED FUNDS WILL ACQUIRE A 60% OWNERSHIP STAKE IN AMERICAN GREETINGS

* CLAYTON, DUBILIER & RICE- OBTAINED COMMITTED FINANCING FROM BARCLAYS, DEUTSCHE BANK SECURITIES, CITIZENS BANK N.A., ING CAPITAL LLC, AMONG OTHERS

* CLAYTON, DUBILIER & RICE - ZEV WEISS AND JEFFREY WEISS, CURRENT CO-CEOS AND MORRY WEISS, CURRENT CHAIRMAN, WILL PARTICIPATE ON AMERICAN GREETINGS’ BOARD Source text for Eikon:

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