Carlyle Makes $1B Deal To Sell Cash Handling Co.

Law360, New York (February 14, 2012, 12:51 PM EST) -- Japanese money handling equipment maker Glory Ltd. will buy U.K.-based competitor Talaris Ltd. from private equity firm The Carlyle Group LP for £650 million ($1 billion) — nearly twice the firm's original 2008 investment, Carlyle announced Tuesday.

The transaction will include the refinancing of Talaris' existing debt, according to investor documents issued by Glory. The deal will close pending a consultation with the French Works Council and regulatory approval, Carlyle said.

“Talaris has demonstrated strong performance in recent years despite the challenging market environment, and we...
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