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September 1, 2006

Buyout of Lincoln Park owner completed

A management-led buyout of Kerzner International Ltd., part owner of Lincoln Park, has been completed, the company announced today.

An investor group led by chairman and founder Sol Kerzner and his son, chief executive officer Butch Kerzner, paid $81 a share to buy the company from existing shareholders. The $3.2 billion sale means Kerzner International will be privately held and no longer trade on the New York Stock Exchange.

Along with the Kerzners, the buyers include Providence Equity Partners of Providence.

Kerzner International is a 37.5-percent owner of BLB Investors LLC, owner of the Lincoln Park video slots venue.

Posted by   at 12:14 PM | Permalink

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