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GSG |
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Aron (backed by the GSG guarantee) is obligated to make required payments to TEAC, which will be sufficient to cover debt service payments and ultimately the payment of the extraordinary redemption. I believe that GSG can now better realize its potential through its sale to Furmanite, while permitting Flowserve to increase its focus on its growing core businesses. Furmanite acquired the GSG assets, including certain working capital, for approximately $16 million in cash. |
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