Home Depot Sells Supply Arm for Big Bucks
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The home improvement chain has finally sold off its HD supply unit to a private equity group.
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Home Depot was scrambling last night to save the sale of its wholesale unit to a consortium of private equity firms, lowering its asking price by about $1.2 billion from the original $10.3 billion it agreed upon, people involved in the talks said.
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Kmart finalizes a revised deal worth $271M, has an option to sell another store to Home Depot. NEW YORK  - Kmart finalized Monday a deal to sell 18 of its stores to Home Depot Inc.
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Retailer Kmart Holdings Corp. (KMRT.O: Quote, Profile, Research) on Monday said it finalized a deal to sell 18 of its stores to Home Depot Inc.
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Home Depot agreed today to sell its commercial supply business to a consortium of private equity firms for $8.5 billion, nearly $2 billion less than the original agreement.
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Home Depot Inc  agreed to cut the price in its supply division sale to private equity firms by $1.8 billion, sources said on Sunday, as the auction fell victim to the credit crunch and a housing market decline.
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Home Depot  is close to accepting about $1.2 billion less for the sale of its wholesale distribution business to three private equity firms, The Wall Street Journal reported on Thursday.
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The Home Depot Inc. has tentatively agreed to sell its wholesale distribution business to a group of private equity firms for $1.8 billion less than originally planned, and it will retain a small stake in the unit, a person with direct knowledge of the situation said Sunday.
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Retailer Kmart Holdings Corp. KMRT.O  on Monday finalized the deal to sell 18 of its stores to Home  Depot Inc. HD.N, for $271 million.
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Discount retailer Kmart Holding Corp. said Monday that it finalized a transaction to sell 18 stores to Home Depot Inc. for a total price of &#36;271 million in cash.
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Home Depot, which began stocking appliances in its stores in 2001, has begun to offer large appliances for sale online. Home Depot (NYSE: HD) operates eight stores in the Memphis region, including stores in
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Home Depot Inc. said Monday it is considering the sale of its wholesale distribution unit as the nation's largest home-improvement retailer renews its focus on its retailing business.
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Home Depot sets the pace for another strong year.
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Home Depot Inc.  said on Tuesday that its board approved the sale of its supply unit for $10.3 billion to private equity firms.
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The Home Depot Inc. and a group of private equity firms are discussing cutting the $10.3 billion price on the company's proposed sale of its wholesale distribution business by about $1 billion, a person with direct knowledge of the situation said Friday.
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Home Depot Inc  said on Tuesday  it agreed to cut the price of its supply division sale to  buyout firms by $1.8 billion, as a housing market drop and a  credit crunch forced all sides to renegotiate.
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Rising fuel prices, a bugbear for most of the retail sector, are helping Home Depot (HD:NYSE - news - research), the remodeling giant that reported a surge in second-quarter earnings Tuesday and guided the rest of the year higher.