« Woodward Governor board to recommend 2-for-1 stock split
FCC approves transfer of Tribune Co. broadcasting licenses »

Windstream sells Windstream Yellow Pages in tax-free deal

SAN FRANCISCO (Dollar Drops) — Windstream Corp. said late Friday it completed the sale of Windstream Yellow Pages, its directory publishing business, in a tax-free transaction to affiliates of Welsh, Carson, Anderson & Stowe, a private equity investment firm. As a part of the transaction, Windstream repurchased about 19.6 million of its shares held by affiliates of Welsh, Carson, Anderson & Stowe and retired about $210 million in debt. The company also received $40 million in cash that it must use to repurchase shares or retire debt in the next 12 months, Windstream said.
Dollar Drops.com Stories are Rapid-fire, short news bursts on stocks and markets as they move.

This entry was posted on Friday, November 30th, 2007 at 5:50 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply