Chuck Gould wrote:
From AP:

PARIS (AP) - Groupe Zodiac, a maker of inflatable boats, said
Wednesday it began discussions with private equity company Carlyle
Group about a possible sale of its Zodiac Marine business to a joint
venture between the two companies.

The transfer of Zodiac Marine would be realized on the basis of an
enterprise value - or market capitalization plus debt - of about 1.01
billion (US$1.4 billion).

If the deal is successful, Carlyle would own 72 percent and Zodiac
would own 28 percent of the holding company of the new group, Zodiac
said in a statement.

The transaction "would allow the Zodiac Group ... to reinforce its
acquisition capabilities in the aerospace sector," said Zodiac Chief
Executive Jean-Louis Gerondeau.

Zodiac said it would use the proceeds of the deal to finance
acquisitions, cut debt, and buy back shares.

Shares in Zodiac rose 4.6 percent to 57.48 (US$77.87) in Paris.


I'm glad to see the Saudis will be using their puppets to buy lifeboats...