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Mitchell International LBO financing credit facility expected to launch in early March
By Sara Rosenberg
New York, Feb. 20 - Mitchell International Inc. is currently anticipated to hold a bank meeting in the early March timeframe to launch a proposed credit facility that will be used to help back its leveraged buyout by an investment group led by Aurora Capital Group, according to a market source.
Goldman Sachs is the lead bank on the deal.
Details on the structure of the facility are not available as of yet, the source added.
The investment group, which includes General Electric Pension Trust, is buying the company from Hellman & Friedman LLC.
The LBO is expected to close in March, pending customary conditions and certain regulatory approvals.
Mitchell is a San Diego-based provider of information, workflow and performance management services to the automotive insurance claims and collision repair industries.
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