IN BRIEF : Maxwell Sells Publishing Units
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LONDON — Maxwell Communication Corp. PLC said today it has sold Macmillan Inc.’s Intertec publishing unit and certain assets of its Webb Publishing Co. for $171 million.
The purchaser, Intertec Publishing Corp., is a newly formed company owned by an affiliate of Rothschild Inc. and others, Maxwell said in a statement.
Maxwell bought Macmillan in a $2.51-billion hostile takeover late last year.
Kohlberg Kravis Roberts & Co., the leveraged buy-out specialist that was also bidding for Macmillan, originally planned to buy the Intertec and Webb units, but the deal fell through in December.
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