Carlyle to be a partner in Home Depot's supply division

[The Backlash Cometh]

How convenient. Carlyle can now send wholesale supply of fertilizer wherever it wants in the world:



Home Depot, the world's largest home-improvement retailer, said Tuesday it would sell its wholesale supply division to a private equity consortium for 8.5 billion dollars, a steep discount from the initial price.

The company had agreed in June to sell HD Supply to three private equity firms, Bain Capital Partners, The Carlyle Group and Clayton, Dubilier and Rice, for 10.3 billion dollars.

But a sharp downturn in the US housing market and rising foreclosures, coupled with tightening credit, forced Home Depot and the buyers back to the negotiating table to adjust the price sharply lower.

The agreement marks the first discount of a major deal since the private-equity buyout boom began about two years ago, and comes amid global financial markets turmoil that originated in the US home loans sector

http://rawstory.com/news/afp/Home_Depot_to_sell_wholesale_unit_f_08282007.html

[youngdem]

1. I will be moving our business to Lowe's tomorrow and paying off our balance.

Not a dime to these crooks.

[Maat]

2. Yep,

we go to Lowe's exclusively now also.

[tridim]

3. I think Lowe's is a blood red company too..

Seem to remember reading that some time in the past.

Is TrueValue blue? Anyone?

[yardwork]

5. Lowe's is fairly blue, actually. Gives more money to Democrats.

Home Depot is deep red. The previous president was a Bush Ranger.

I always go to Lowes, never go to Home Depot.

[DCKit]

4. Didn't the Bin Laden's have a huge stake in Home Depot?

And the Bush family has a ton of cash in Carlyle. It's so incestuous.