Blackstone buys stake in RGIS |
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Thu, 22 Mar 2007 18:37
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NEW YORK (AP) - An affiliate of private equity firm Blackstone Group agreed to buy a controlling stake in RGIS Holdings LLC, a privately held inventory and retail services company, RGIS said Thursday.Terms and additional details weren't disclosed.RGIS, or Retail Grocery Inventory Services, is based in Auburn Hills, Mich., and has customers worldwide including Wal-Mart Stores, CVS, Home Depot and Target. Its current management will retain a 'significant stake' in the company following the close of the deal.Goldman, Sachs & Co. has committed to provide bank debt and mezzanine financing.The transaction is subject to customary conditions and is expected to close in the first half of the year.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Blackstone group acquires controlling interest in RGIS Holdings 