|
|
Article: United states : Ripplewood Distributes Much Of RSC Stake To Limited Partners.
- Article from:
- TendersInfo
- Article date:
- August 25, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. 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)
|
Byline: shiv03
Buyout firm Ripplewood Holdings LLC distributed three-quarters of its stake in construction-equipment rental firm RSC Holdings Inc. (RRR) to Ripplewood's limited partners. Concurrently, Ripplewood's four representatives on RSC's board have resigned. They won't be replaced, shrinking the board to eight.
Ripplewood and fellow private-equity firm Oak Hill Capital Management LLC bought an 85.5% stake in RSC in 2006 from Swedish engineering firm Atlas Copco AB (ATLKY) for $3.4 billion. A roughly 20% stake in RSC was sold in 2007 through an initial public offering at $22 a share. But the stock has slumped since its debut. RSC, though, has more ...