Onex to sell The Warranty Group to TPG Capital - Reuters
Canadian private equity investment firm Onex Corp said it would sell The Warranty Group, a provider of extended warranty contracts, to an affiliate of TPG Capital Management LP for an enterprise value of about US$1.5 billion, Reuters reported. The deal value includes earnings the business generates from Dec. 31, 2013, until the expected closing of the deal in the third quarter of the year. Onex bought The Warranty Group from insurance broker Aon Plc in 2006 for US$710 million. Onex will get about US$385 million of the proceeds, the firm said in a statement on Friday.
21 March 2014•1 min read
