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Adesa acquisition by private equity funds expected to close in second quarter
By Jennifer Chiou
New York, Jan. 24 - Adesa, Inc. announced it expects its acquisition by a group of private equity funds to close in the second quarter after the Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
The equity funds include Kelso & Co., GS Capital Partners, an affiliate of Goldman Sachs, ValueAct Capital and Parthenon Capital.
The company added that the transaction remains subject to stockholder approval among other conditions.
Adesa is a Carmel, Ind.-based provider of wholesale vehicle auctions and used vehicle dealer floorplan financing.
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