Global Crossing Sells IPC to GS Capital Partners
NETWORKS AND INFRASTRUCTURE
HAMILTON, Bermuda--Global Crossing will sell its IPC Trading Systems unit to a consortium of investors led by GS Capital Partners 2000, a unit of the Goldman Sachs Group, for $360 million in cash.
Asia Global Crossing will receive $22.6 million of the payout from its divestiture of the Asia-Pacific assets and operations of IPC, which it acquired from Global Crossing along with Ixnet in July 2001. Global Crossing purchased IPC and Ixnet for $4 billion in February 2000 (TTW, Feb. 28, 2000).
IPC will
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