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Private-equity owner said to weigh $3.5 billion sale of former Masco unit Cabinetworks
Kiel Porter
Ann Arbor-based Cabinetworks brands include Merillat Cabinetry.
Private equity firm American Industrial Partners is considering a sale of Cabinetworks Group that could value the building products company at about $3.5 billion, according to people familiar with the matter.
New York-based AIP is working with advisers on strategic options for Cabinetworks, including a potential sale, said the people, who asked not to be identified because they weren t authorized to speak publicly. The business is expected to attract interest from other private equity firms and industry peers, the people said.
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Egypt is reviewing a final agreement with Germany's Siemens AG to develop a 360 billion Egyptian pound ($23 billion), 1,000-km high-speed electric railway network, Egypt's presidency said on Wednesday.