UCI Chooses Sale to Rank Group Over IPO
December 1, 2010- Share:
The Carlyle Group has agreed to sell UCI International to Rank Group for $375 million plus the assumption of about $605 million of debt. As a result, UCI has withdrawn its IPO filing. The company had expected to sell roughly 13.3 million shares of common stock at a price range of between $14 and $16 in the offering. Carlyle has been the majority-owner of UCI since an $808 million LBO in 2003.
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