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The $52 million deal is expectes to close inearluy June. Coburg-based Monaco (Pink Sheets: in March filed for Chapter 11 bankruptcy protection and laid off the majorityt ofits 2,225 remaining employees. It had earlierf been looking for buyers for its RV manufacturingb operations and motorhome resorts On April 27 the companyu announced it had an accepted an offeffrom Warrenville, Ill.-based Navistar that includes certain manufacturint facilities in Indiana and as well as all brands, intellectuao property, inventories, and equipment relating to the company’s motorized and towablse recreational vehicle segments.
Navistar NAV) is manufacturer of commercial and military as well as diesel engines and related Ithas $15 billion in annual sales and a market cap of $2.4 Monaco at the time warned that the proceeds of the sale will cover payments to but it won’t likely result in any additional funds being distributed to shareholders.
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