Carlyle Buys Allison, Cuts IPO
A couple bits of Carlyle news:
Carlyle is teaming up with Toronto buyout firm Onex to buy General Motor's Allison Transmission subsidiary for $5.6 billion.
GM said in a release that a Baltimore plant that produces conventional and hybrid 2MODE transmissions for GM's pick-up trucks and SUVs and will remain with the Detroit automaker.
Meanwhile, Carlyle is reducing by 25 percent its initial public offering for a mortgage fund over concern about the slump in the real estate market, according to Reuters. The fund, which plans to invest primarily in mortage-backed securities, would sell shares in Amsterdam.
June 28, 2007; 11:50 AM ET
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