Proliance International Inc (PLNTQ)

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Aug 19, 2009 Proliance International, Inc. has completed the sale of substantially all of its North American assets to Centrum Equities XV, LLC, a unit of real estate firm Centrum Properties, Inc.
Proliance is a manufacturer and distributor of aftermarket heat exchange and temperature control products for automotive and heavy-duty applications. All the companies are based in the US.

Announcement (July 2, 2009):

Proliance International has entered into an agreement to sell substantially all of its North American assets to Centrum Equities for $21.5 million in cash.

Broadpoint Capital, Inc. is acting as financial advisor and Jones Day is acting as legal advisor to Proliance.

Deal Value (US$ Million) 21.5
Deal Type Acquisition
Sub-Category Asset Purchase
Deal Status Completed: 2009-08-17

Deal Participants

Target (Company) Proliance International, Inc. - North American Assets
Acquirer (Company) Centrum Equities XV LLC
Vendor (Company) Proliance International, Inc.

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http://www.tradingmarkets.com/.site/news/Stock%20News/2487691/