$4.2b Nalco purchase complete.The private equity group consisting of The Blackstone Group Blackstone Group L.P. (NYSE: BX) is a prominent private equity and investment management firm founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman. The company is based in New York City, in River House on Park Avenue at Fifty-first Street, with offices in Atlanta, , Apollo Management Apollo Management L.P. is a private equity L.P. firm, founded in 1990 by Leon Black (Apollo Advisors). Based in New York, it also has offices in Los Angeles and London. It has invested over $16 billion in companies inside and outside the of the United States. , L.P., and Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. Capital Partners announced that its acquisition of Ondeo Nalco Company from Suez, S.A. is complete. The group tendered an offer for Ondeo Nalco in September for $4.2 billion. As of the closing of the sale, the officially renamed Nalco Company will operate as a privately held, independent business. "With the sale of the company behind us, we can increase our focus on driving faster growth while improving the already high-quality service we bring to our customers," said Dr. William Joyce, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Nalco. "Developing innovative technology remains a core focus for Nalco. We will also redesign re·de·sign tr.v. re·de·signed, re·de·sign·ing, re·de·signs To make a revision in the appearance or function of. re our structures and processes to make it easier for customers to work with us." Nalco is transitioning to private ownership in its 75th year of operation. The company is a leading provider of water treatment and process improvement services, chemicals and equipment programs for industrial and institutional applications. |
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