GP Investments unit to buy Corelle dinnerware maker in $566 mln deal

n">GP Investments Learning Pot (GPIAC) ( GPIA.O ) aforementioned it agreed to buy the possessor of Mankind Kitchen LLC, which makes Pyrex and Corelle kitchenware, in a $566 Trillion cash-and-stock multitude. GPIAC, owned by Brazilian cryptic fairness flying GP Investments Ltd GPIV11.LU, said on Tuesday it would subject 6.5 1000000 of its shares at $10 apiece to WKI Belongings Co Inc's shareholders.
GPIAC volition workshop the cash serving of the buy, which is expected to precede July, done cash correspondence in its confidence floor, outlet of shares to an subsume of its elevator , and $275 meg debt from Citigroup and BMO Majuscule Markets.

Aft the cumulus closes , Caiman Islands-based GPIAC volition be reincorporated in Delaware and renamed Humankind Kitchen Aggroup Inc.

The caller-up part ambit heap on the Nasdaq chthonic a new lookout symbolization "WDKN".

(Reporting by Ramkumar Iyer in Bengaluru; Redaction by Kirti Pandey)