Global equity firm buys stake in Portland-based Integra Telecom
Daily Journal of Commerce (Portland, OR), Aug 14, 2007 by Nathalie Weinstein
Global private equity firm Warburg Pincus will invest $245 million to obtain equity interest in Integra Telecom Inc., a Portland-based business telecommunications provider, Integra said Tuesday.
A spokeswoman for Integra said the investment would not make Warburg the majority shareholder.
Deutsche Bank Securities acted as mergers and acquisitions adviser to Integra, and Morgan Stanley acted as mergers and acquisitions adviser to Warburg. The transaction is expected to close in fall of 2007.
Proceeds from the transaction will be paid to some existing Integra investors in exchange for outstanding shares, and Integra will continue to operate as a privately held company and will not raise primary equity.
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