Samsonite to Be Sold (original) (raw)
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- July 6, 2007
The luggage maker Samsonite said yesterday that it had agreed to be bought by the private equity firm CVC Capital Partners in an all-cash deal of about $1.7 billion, including assumption of debt.
The deal, which was approved by the board of Samsonite, values the company at $1.49 a share, Samsonite said.
Samsonite manufactures and distributes luggage under its name and others like American Tourister. Its principal shareholders — entities controlled by Ares Management, Bain Capital Partners and Teachers’ Private Capital, a private investment branch of the Ontario Teachers’ Pension Plan — have agreed to the transaction, Samsonite said.
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