5/16, 1:55 PM (Source: TeleTrader)
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Chart for: KKR & Co Inc

Steel producer Nucor to buy CHI for $3 billion

Private equity firm KKR & Co. Inc. announced on Monday it has reached a $3 billion deal to sell CHI Overhead Doors to steel producer Nucor Corporation.

KKR bought the garage-door maker in 2015, paying over $600 million at the time, the company said in a statement. "The sale will represent one of KKR's largest returns in recent history, at 10 times the original equity invested, inclusive of distributions," the statement read.

The deal is expected to be finalized around the middle of the year, it concluded.

Baha Breaking News (BBN) / BU