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Stock exchange delists Adesa after purchase

Adesa, a former subsidiary of Duluth-based Allete Inc., was delisted from the New York Stock Exchange on Monday, after the Friday sale of the company to a group of private investors. The new ownership group comprises Kelso & Co.; GS Capital P...

Adesa, a former subsidiary of Duluth-based Allete Inc., was delisted from the New York Stock Exchange on Monday, after the Friday sale of the company to a group of private investors. The new ownership group comprises Kelso & Co.; GS Capital Partners VI L.P., an affiliate of Goldman Sachs & Co; ValueAct Capital Master Fund L.P.; and Parthenon Investors II L.P.

In a deal supported by shareholders who controlled a majority of the publicly held company, Adesa was sold for $27.85 per share.

Adesa, based in Carmel, Ind., operates North America's second-largest network of used-vehicle auction houses.

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