CVC Capital To Buy Samsonsite

  • July 6, 2007
Samsonite Corporation, which makes and markets luggage, casual bags, business cases and travel-related has inked a merger agreement to be acquired by funds managed and advised by CVC Capital Partners a leading global private equity firm.

The all-cash transaction is valued at approximately $1.7 billion, including the assumption of debt. Under the terms of the agreement, CVC will acquire all of the outstanding common stock of Samsonite for $1.49 per share in cash. The transaction was unanimously approved by the Board of Directors of Samsonite.--Karl Greenberg

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