Subject: Deal Arlene Was Referring To....
From: "Eric Schwerin" <[email-masked]>
To: "Hunter Biden" <[email-masked]>, "Arlene Busch" <[email-masked]>
Date: Tue, 30 Nov 2010 13:05:39 -0500

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UPDATE 2-UCI agrees to Rank Group's $375 mln buyout, shelves IPO
 	                 
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Tue Nov 30, 2010 1:04am IST
* Rank to additionally assume debt of about $605 mln

* Deal to have termination fee of $100 mln

* UCI files with SEC to withdraw IPO (Adds regulatory filing from UCI)

Nov 29 (Reuters) - UCI International said it filed with the U.S. regulator to withdraw its initial public offering after New Zealand-based private investment firm Rank Group agreed to acquire the automobile spare parts maker for $375 million.

In a filing with the U.S. Securities and Exchange Commission on Monday, Evansville, Indiana-based UCI International said it did not intend to pursue the contemplated $200 million IPO at this time.

Rank Group, owned by New Zealand billionaire Graeme Hart, said it will additionally assume debt of UCI and its units, estimated at about $605 million.

UCI International had said last week it priced its initial public offering (IPO) of 13.3 million shares between $14-$16 each. The company had filed for the IPO in July. [ID:nWNAB4300] [ID:nSGE66Q0N5]

Rank Group will have to pay UCI International $100 million, if the deal is terminated, it said. (Reporting by Bijoy Koyitty in Bangalore; Editing by Vyas Mohan)

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Eric D. Schwerin
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