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TI Automotive plans new financing for buyout by Bain Capital
By Sara Rosenberg
New York, Jan. 27 – TI Automotive Ltd. has received a financing commitment to help fund its acquisition by Bain Capital, according to a news release.
Closing is expected in mid-year, subject to approval from TI Automotive shareholders, a substantial majority of which have pledged to support the deal, regulatory review and other customary conditions.
Goldman Sachs & Co. and UBS Securities LLC are serving as financial advisers to Bain. Blackstone Advisory Partners is serving as financial adviser to an ad hoc group of shareholders of TI Automotive.
TI Automotive is an Auburn Hills, Mich.-based provider of fluid storage, carrying and delivery systems to automotive manufacturers.
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