Court Square Capital Owns 90% Of Delco Remy - Engine Builder Magazine
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Court Square Capital Owns 90% Of Delco Remy


Court Square Capital, a unit of Citigroup, announced that it has completed its buy of approximately $247 million in Delco Remy International shares that it had not previously owned. With the completion of this offer, Court Square Capital now owns about 90 percent of Delco Remy common stock.

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DRI Acquisition LLC, a subsidiary of Court Square Capital, carried out the tender offer. DRI Acquisition accepted for purchase and payment all shares of Delco Remy Class A common stock not currently owned by Court Square at $9.50 per share, net to the seller in cash, which were validly tendered and not withdrawn as of the expiration of its tender offer. Approximately 9.72 million shares of the Class A common stock were validly tendered pursuant to the tender offer and not withdrawn.

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