LONDON - The fate of Britain's two state-controlled banks will become clearer on Wednesday, when Chancellor George Osborne is likely to start the clock ticking for the sale of the government's stakes.
FRANKFURT - New solar installations reached a fresh record of 7.5 gigawatts (GW) in Germany in 2011, playing into the hands of advocates for steeper cuts in tariff subsidies to reduce growth of solar power and the resulting higher costs for consumers.
Warburg Pincus to sell Scotsman Industries for $575 million: WSJ
(Reuters) - Private equity firm Warburg Pincus WP.UL has agreed to sell Scotsman Industries Inc to Italian food service equipment firm Ali Group for about $575 million, the Wall Street Journal reported, citing people familiar with the deal.
Warburg, which bought the ice machine maker in 2009 for $160 million, made back its investment in Scotsman before the sale, collecting about $200 million in dividend payments, the Journal said. (link.reuters.com/cew73t)
Officials at Warburg Pincus were unavailable for comment outside regular business hours.
(Reporting By Vrinda Manocha in Bangalore; Editing by Matt Driskill)
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