It was not clear who would end up with control, but because Asurion
is larger, it seems likely that its owners will hold a majority stake.
N.E.W. and Asurion are keeping their debt structures in place, sources
said.
Berkshire, a Boston private equity firm, bought N.E.W. Customer in 2006 for $1.2 billion from TH Lee Putnam Ventures and Freeman Spogli & Co. Freeman Spogli is believed to still
own a stake in N.E.W.
In an unannounced deal in July 2007, Madison Dearborn Partners LLC, Providence Equity Partners LLC and Welsh, Carson, Anderson & Stowe acquired Asurion from TA Associates Inc. and DST Systems Inc. No price was disclosed, but Merrill Lynch & Co., Deutsche Bank AG, Bank of America Corp. and Lehman Brothers Holdings Inc. provided a $2.43 billion loan for the deal. -- Luisa Beltran
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