Carestream Raises $2.5B In Dividend Recapitalization

Law360, New York (June 13, 2013, 4:48 PM EDT) -- New York-based Carestream Health Inc., a portfolio company of Canadian private equity firm Onex Corp., has raised roughly $2.4 billion in debt to fund a $725 million distribution to shareholders in a massive dividend recapitalization, Onex announced Wednesday.

Onex, which acquired Carestream in 2007, will receive roughly $295 million from the Carestream shareholder distribution. Affiliates of the Toronto-based PE firm will reap proceeds of nearly $380 million, Onex said.

Onex owns 91 percent of Carestream directly and through its affiliates. The private equity firm acquired Carestream...
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