US-based private equity firm The Blackstone Group has reached an agreement to buy 44 percent of Leica Camera AG in a deal to be completed by the end of the year, Blackstone and ACM Projektentwicklung GmbH, Leica’s parent company, announced today.
Blackrock investment funds will acquire the stake through a holding company, the announcement said.
In a statement, Dr. Andreas Kaufmann, the chairman of Leica’s supervisory board, called Blackstone “an experienced and internationally established strategic partner.” The deal, which is likely to be completed by the end of the year pending approval from government regulators, will help fund Leica’s “growth plans into new markets such as Asia, South America and the Middle East,” he added. Leica is coming off a 2010/2011 fiscal year when they turned record profits, the company reports.
Axel Herberg, Blackstone senior managing director, also emphasized a focus on emerging markets in his statement. “We are very excited about supporting Leica to secure long-term commercial relationships, specifically in emerging markets, and help strengthen the company¹s operational and retailing capabilities globally,” he said.
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