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Article: ADVANSTAR IN PACT TO BE ACQUIRED BY VERONIS SUHLER STEVENSON.
- Article from:
- Daily News Record
- Article date:
- April 2, 2007
CopyrightCOPYRIGHT 2007 Fairchild Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: David LIipke
NEW YORK - Advanstar Communications Inc., owner of the MAGIC Marketplace, Project and Pool fashion trade shows, entered into a definitive agreement last Thursday to be acquired by private equity firm Veronis Suhler Stevenson and its partners for $1.142 billion in cash.
Under the terms of the deal, Veronis Suhler Stevenson and its co-sponsors, including Citigroup Private Equity and New York Life Capital Partners, will acquire all the outstanding stock of Advanstar Holdings Corp., the holding company for Advanstar Communications, from current owner DLJ Merchant Banking Partners III LP, an affiliate of Credit Suisse.
"We are ...