Buffett's Berkshire Hathaway buying Pritzker family's Marmon
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Washington/Omaha - The US multi-billionaire Warren Buffett's Berkshire Hathaway investments company is buying 60 per cent of Marmon Holdings, a private company owned by trusts for the wealthy US Pritzker family, Buffett's company said Tuesday in a press statement. The 4.5-billion-dollar deal is to be finalized by the first quarter of 2008, the company said. Hathaway is to acquire the remaining 40 per cent over the next five or six years, with the price dependent on Marmon's financial success. Marmon has annual revenues of 7 billion dollars from 125 manufacturing and service businesses around the world. Buffett, 75, one of the country's most successful investors and ranked as the second-richest person in the world in 2006, last year said he would give away most of his money to a charity founded by Bill Gates, co-founder and chairman of Microsoft Corp and the world's richest man.
Copyright DPA
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