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Kodak Health credit facility to be led by Credit Suisse, Goldman
By Sara Rosenberg
New York, Jan. 12 - Kodak Health Group's proposed credit facility will be brought to market via joint lead arrangers Credit Suisse and Goldman Sachs, according to a syndicate document.
Details on the structure and timing of the credit facility are still to be determined, the document added.
Proceeds will be used to help fund Onex Healthcare Holdings Inc.'s acquisition of Eastman Kodak Co.'s health group business, which consists of Kodak's medical, dental and molecular imaging systems businesses.
Under the transaction agreement, Onex Healthcare, a subsidiary of Onex Corp., is buying the health care business for up to $2.55 billion, consisting of an initial payment of $2.35 billion in cash plus up to an additional $200 million if Onex achieves certain returns with respect to its investment.
Closing is anticipated to occur during the first half of 2007, subject to regulatory and other approvals.
Onex Corp. is a Toronto-based diversified company.
Eastman Kodak is a Rochester, N.Y.-based digital imaging products and services company.
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