{"id":38273,"date":"2009-11-08T17:53:48","date_gmt":"2009-11-08T22:53:48","guid":{"rendered":"http:\/\/www.pehub.com\/?p=54989"},"modified":"2009-11-08T17:53:48","modified_gmt":"2009-11-08T22:53:48","slug":"kkr-general-atlantic-buying-tasc-for-1-65-billion","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/38273","title":{"rendered":"KKR, General Atlantic Buying TASC for $1.65 Billion"},"content":{"rendered":"

NEW YORK, Nov 8 (Reuters) – Defense contractor Northrop Grumman (NOC.N<\/a><\/span>) has agreed to sell its TASC consulting unit to two buyout firms, General Atlantic and Kohlberg Kravis Roberts & Co., for $1.65 billion, the companies said on Sunday.<\/p>\n

The deal is the latest in a spate of buyouts, as the financing markets improve. On Thursday, the biggest leveraged buyout of the year was signed, when private equity firm TPG and the Canada Pension Plan struck a $4 billion deal to buy IMS Health Inc (RX.N<\/a><\/span>).<\/p>\n

Northrop hired investment banks to sell the unit, which advises government military agencies, a few months ago, drawing interest from a number of private equity firms.<\/p>\n

Sources told Reuters in September that a sale, originally expected to fetch about $2 billion, would more likely be around $1.5 billion.<\/p>\n

The deal is expected to be completed in the fourth quarter.<\/p>\n

Financing commitments for the acquisition are comprised of senior secured credit facilities and senior subordinated notes, the companies said in a press release.<\/p>\n

The credit facilities will be provided by Barclays Capital, Deutsche Bank (DBKGn.DE<\/a><\/span>), RBC Capital Markets and CPPIB Credit Investments.<\/p>\n

KKR’s Capital Markets unit arranged the senior subordinated notes with Highbridge Mezzanine Partners as the lead investor.<\/p>\n

Barclays Capital, Deutsche Bank and RBC Capital Markets advised General Atlantic and KKR.<\/p>\n

By Megan Davies<\/p>\n

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NEW YORK, Nov 8 (Reuters) – Defense contractor Northrop Grumman (NOC.N) has agreed to sell its TASC consulting unit to two buyout firms, General Atlantic and Kohlberg Kravis Roberts & Co., for $1.65 billion, the companies said on Sunday. The deal is the latest in a spate of buyouts, as the financing markets improve. On […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-38273","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/38273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=38273"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/38273\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=38273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=38273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=38273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}