Allison tapped to help pay for its acquisition

July 18, 2007
Allison Transmission has sold $1.1 billion of unsecured notes to help pay for Carlyle Group and Onex Corp.'s acquisition of the transmission maker from General Motors Corp., according to Bloomberg.

General Motors said June 28 that it would sell Indianapolis-based Allison for $5.6 billion to Carlyle, based in Washington, D.C., and Onex, of Toronto.

Allison employs about 3,400 in Indianapolis. The deal is expected to close in the third quarter.
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