Blackstone Snaps Up Stake In German Camera Co.

Law360, New York (October 19, 2011, 1:34 PM EDT) -- The Blackstone Group LP will acquire a 44 percent stake in Leica Camera AG, the once-troubled German photography titan, from an Austrian investment firm in an effort to power the camera company's international growth, the private equity firm said Wednesday.

BCP Lisa Germany, a Blackstone-controlled holding company, will buy the stake from Salzburg-based ACM Projektentwicklung GmbH. Since a 2007 buyout, ACM has held a 97 percent stake in Leica, the industry giant that pioneered the modern handheld camera but has struggled to compete in the digital...
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