Kirkland Reps Struggling 3i In $960M Manufacturer Sale

Law360, New York (February 12, 2013, 12:32 PM EST) -- British private equity house 3i Group PLC will unload manufacturing unit Mold-Masters Ltd. in a £615 million ($960 million) sale to plastics processor Milacron LLC, it said Tuesday, part of a plan to sell off certain assets and slash debt that has weighed down the firm's buyout business.

In the sale, 3i raked in about £219 million in proceeds — 2.6 times its 2007 initial investment in the Canadian company. The sale comes in response to mounting shareholder pressure on the firm to hack its billion-dollar...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.