Onex Completes Sale of KraussMaffei Group
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 04/29/16 -- All amounts in U.S. dollars unless otherwise stated
Onex Corporation ("Onex") (TSX: OCX) and its affiliates (the "Onex Group") today announced they have completed the sale of KraussMaffei Group to China National Chemical Corporation for a cash enterprise value of EUR925 million ($1.0 billion).
The Onex Group acquired KraussMaffei Group in December 2012 with an investment of $358 million and has received proceeds of $747 million. This results in a gross multiple of invested capital of 2.1 times and a 24% gross rate of return. Onex' portion of the proceeds is $192 million, including carried interest of $11 million.
About Onex
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. The Company has approximately $22.5 billion of assets under management, including $6.0 billion of Onex proprietary capital. With offices in Toronto, New York, New Jersey and London, Onex invests its capital through its two investing platforms and is the largest limited partner in each of its private equity funds.
Onex' businesses have assets of $36 billion, generate annual revenues of $22 billion and employ approximately 144,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at . The Company's security filings can also be accessed at .
This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.
Contacts:
Onex Corporation
Emilie Blouin
Director, Investor Relations
416.362.7711
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Datum: 29.04.2016 - 11:30 Uhr
Sprache: Deutsch
News-ID 467512
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