Atlanta-based The Home Depot will sell its wholesale distribution business to a group of private equity firms for about 1.8 billion dollars less than originally thought—-that has been told to the Associated Press by a person with direct knowledge of the situation.
Home Depot will keep a small stake in the unit, about 12-and-a-half percent. The company will also guarantee 1-billion of the debt that the buyers will assume. The revised deal also calls for Home Depot to get 8.5 billion in cash, instead of the original 10.3 billion agreed-to in June. The new parameters of the deal were hammered out in talks that continued into this past weekend.
Home Depot will keep a small stake in the unit, about 12-and-a-half percent. The company will also guarantee 1-billion of the debt that the buyers will assume. The revised deal also calls for Home Depot to get 8.5 billion in cash, instead of the original 10.3 billion agreed-to in June. The new parameters of the deal were hammered out in talks that continued into this past weekend.
