On Apr 23, 3:25?am, Harry Krause wrote:
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...- Hide quoted text -

- Show quoted text -

Harry, I'm sure the Saudis could buy lifeboats directly from Zodiac.
Could probably buy Zodiac itself with a couple of days' oil revenue,
if they had a mind to.

Carlyle is probably less interested in buying inflatables for the
Saudis than in selling them. LIke any corporation, Carlyle will look
for an opportunity to sell the largest possible number of inflatable
boats and at the highest possible price. Can't blame them a bit; when
I'm selling something I do the very same thing. If by some stretch of
wild imagination Carlyle were in a position to influence demand as
well as supply, (not to say they are, mind you) that could be very
lucrative- but poor old Martha Stewart went to jail for less.