Feb 11 Canadian private equity firm Onex Corp
said on Monday it plans to sell its 50 percent stake in
RSI Home Products back to the privately held company for about
Onex said its investment in RSI, which manufactures kitchen
and bathroom cabinets, has generated significant returns for its
Onex invested $318 million in RSI in October 2008. Following
the close of the sale, Onex will have received total proceeds of
about $471 million from RSI, including prior distributions.
Toronto-based Onex said it expects the deal to close by the
end of March, subject to closing conditions, including a
financing condition for the benefit of RSI.