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HD Supply, diversified wholesale distributor in the infrastructure and energy, maintenance, repair and improvement and specialty construction markets, has reached an agreement with The Home Depot, Atlanta, GA, related to post-closing purchase price adjustments from the sale of HD Supply in August 2007.
Home Depot sold HD Supply to three private equity firms for $8.5 billion, with the Home Depot retaining a 12.5% equity stake in the company.
Under the terms of the agreement, HD Supply will receive a payment of
"We are very pleased to have reached an agreement and to put this matter behind us," said
Joe DeAngelo, HD Supply's Chief Executive Officer, "The Home Depot is a valued customer and minority investor of HD Supply, and we look forward to continuing our good relationship and to serve them."
In connection with its minority stake in HD Supply, The Home Depot recently announced that it would record a pre-tax charge of
HD Supply has more than 900 locations in North America.