The Home Depot, Atlanta, GA, officially announced a change in terms for its sale of HD Supply, its $12 billion wholesale unit. The retailer will sell the unit to a trio of private equity firms for $8.5 billion, nearly $2 billion from the original agreement of $10.3 billion.
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In addition, Home Depot will purchase a 12.5% interest in HD Supply for $325 million and will guarantee a $1 billion loan to the buyers.
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Merrill Lynch, JP Morgan and Lehman Brothers have revised their debt commitment for 100% of the third-party debt financing.
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The deal will close Aug. 30, 2007.
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Home Depot expects to net $7.9 billion in cash proceeds from the sale.
  ;
Despite the softness in the financing and residential construction markets, the …
New Deal: Home Depot Sells HD Supply for $8.5B
The Home Depot, Atlanta, GA, officially announced a change in terms for its sale of HD Supply, its $12 billion wholesale unit. The retailer will sell the unit to a trio of private equity firms for $8.5 billion, nearly $2 billion from the original agreement of $10.3 billion.
  ;
In addition, Home Depot will purchase a 12.5% interest in HD Supply for $325 million and will guarantee a $1 billion loan to the buyers.
  ;
Merrill Lynch, JP Morgan and Lehman Brothers have revised their debt commitment for 100% of the third-party debt financing.
  ;
The deal will close Aug. 30, 2007.
  ;
Home Depot expects to net $7.9 billion in cash proceeds from the sale.
  ;
Despite the softness in the financing and residential construction markets, the …
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