Arab Today, arab today blackstone to buy us auto parts firm gates for 54bn
Last Updated : GMT 22:50:55
Arab Today, arab today
Arab Today, arab today

Blackstone to buy US auto parts firm Gates for $5.4bn

Arab Today, arab today

Arab Today, arab today Blackstone to buy US auto parts firm Gates for $5.4bn

New York - AFP

 Investment fund Blackstone said Friday it will buy US auto parts maker Gates Corporation for $5.4 billion from its Canadian owners.The deal is the second-largest private equity takeover so far this year after Cerberus Capital's $9.1 billion agreement to merge its Albertson's supermarket chain with rival Safeway.Blackstone said it had clinched the cash deal to buy all of Pinafore Holdings, the parent company of Gates owned by Canadian private-equity company Onex and the Canada Pension Plan Investment Board.The buyout is Blackstone's biggest since it acquired hotelier Hilton for $26 billion in 2007.Gates, formerly known as Gates Global, is the world's leading manufacturer of power transmission belts and a leader in fluid power products for the automobile and other industries."Gates derives a majorityofitssalesfromreplacementmarketsaroundtheworld,"Blackstonesaid.Blackstone said the transaction was expected to close this year, subject to regulatory approvals.Gates garnered $2.9 billion in sales and $25 million in profits in the year that ended September 28, 2013, according to a US securities filing.Last December, Gates filed papers for an initial public offering.Gates last changed hands in 2010, when Onex and Canada Pension acquired the assets as part of the purchase of British engineering and manufacturing group Tomkins for about $5 billion.Gates is based in Denver, Colorado, and employs more than 14,300 employees in 30 countries.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today blackstone to buy us auto parts firm gates for 54bn Arab Today, arab today blackstone to buy us auto parts firm gates for 54bn

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today blackstone to buy us auto parts firm gates for 54bn Arab Today, arab today blackstone to buy us auto parts firm gates for 54bn

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Airbus CEO says won't cling to job

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 'Final phase' of battle for Raqa

GMT 03:47 2017 Monday ,16 October

'Final phase' of battle for Raqa
Arab Today, arab today Uber puts the brakes on UberPOP

GMT 14:15 2017 Tuesday ,10 October

Uber puts the brakes on UberPOP
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Norway seeks 'Tesla tax' on electric cars

GMT 08:17 2017 Friday ,13 October

Norway seeks 'Tesla tax' on electric cars
Arab Today, arab today Safaa Sultan happy for “Love School”

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”
Arab Today, arab today Conservation cutbacks put Brazil's

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:19 2017 Wednesday ,11 October

Bosy reveals behind her participation in festival

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:20 2017 Thursday ,12 October

Chad extends key conservation area

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:26 2017 Wednesday ,11 October

Trump Rolls Back Obamacare Provision

GMT 07:16 2017 Friday ,13 October

Lufthansa to swallow lion's share

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday