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Polynt-Reichhold Group: Black Diamond Announces That Polynt-Reichhold Has Agreed to Repurchase Investindustrial's Shares in the Company


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Black Diamond Capital Management, L.L.C. ( Black Diamond ) is pleased to announce a transaction involving one of its portfolio companies, Speciality Chemicals International Limited, a holding company of the Polynt-Reichhold group (the Company ) in which the Company agreed to repurchase Investindustrial s shares in the Company (the Transaction ). Following the completion of the Transaction, Black Diamond will become the Company s controlling shareholder.
Black Diamond and Investindustrial became partners in Polynt-Reichhold after the successful merger of Polynt and Reichhold in May 2017. In the years following the merger, the combined company s performance has substantially improved. The Transaction, together with the refinancing of the existing debt, will be financed by approximately €1.3 billion (equivalent) of new senior secured and unsecured debt facilities expected to be issued by the Company in the public debt capital markets. Affiliates of JP Morgan and cert ....

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(IHRT), E.W. Scripps Company (The) (NYSE:SSP) - Scripps Sells Triton Digital To iHeartMedia For $230M


Share:
iHeartMedia (NASDAQ: IHRT) for $230 million.
What Happened: Scripps acquired Triton, a Los Angeles-based digital audio technology and advertising company, in 2018 for $150 million. In announcing the sale, Scripps said it received a cash-on-cash return of 1.6 times on its acquisition of Triton.
This transaction is the latest subsidiary divestiture by Scripps.
Last July, it sold the podcast company Stitcher to
SiriusXM (NASDAQ: SIRI) for $325 million; Scripps acquired Stitcher in 2016 for $4.5 million. In December, the company completed its sale of WPIX, a New York City-based affiliate of The CW television network, to the
Nexstar Media Group s (NASDAQ: NXST) Mission Broadcasting Inc. subsidiary for $75 million. ....

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