Onex posts $283M loss (Dealscape

Publicly traded private equity firm Onex Corp. reported a net loss of $283 million for 2008, compared with net gains of $28 million in 2007, primarily on noncash goodwill and impairment charges of $1.6 billion in the fourth quarter, the company said Feb. 26.

More than two-thirds of the write-down stemmed from a goodwill impairment recorded by Celestica Inc. of Toronto, a listed electronic manufacturing services company. Celestica wrote off $850.5 million in goodwill, resulting in a net loss of $822.2 million for the year.

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NOT A SUBSCRIBER? Onex posts $283M loss Posted on February 27, 2009 12:37 PM Publicly traded private equity firm Onex Corp. reported a net loss of $283 million for 2008, compared with net gains of $28 million in 2007, primarily on noncash goodwill and impairment charges of $1.6 billion in the fourth quarter, the company said Feb. 26. More than two-thirds of the write-down stemmed from a goodwill impairment recorded by Celestica Inc. of Toronto, a listed electronic manufacturing services company. Celestica wrote off $850.5 million in goodwill, resulting in a net loss of $822.2 million for the year. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 1,165 in-depth records of Private Equity deals in the Financial Services sector 537 articles related to Onex Corp. 330 in-depth records of Bankruptcies in the Financial Services sector 109 articles related to Celestica Inc. 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Birds Eye Cadbury AG Agrium Inc. Skadden Arps Revolution Money Tandberg ASA Aisling Capital Ken Lewis Natco		EXISTING USERS Username Password Forget your password? Missing a product?

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