Reuters: Private Equity: CORRECTED-Thomas H. Lee buys most of Party City

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CORRECTED-Thomas H. Lee buys most of Party City Jun 5th 2012, 12:45 Tue Jun 5, 2012 8:45am EDT June 5 (Reuters) - Private equity firm Thomas H. Lee Partners will buy a majority stake in Party City, North America's largest retailer of party goods such as balloons and Halloween costumes, in a deal that values the company at $2.7 billion. The retailer's current private equity owners -- Advent International Corp, Berkshire Partners LLC and Weston Presidio -- as well as Party City management will have "significant minority stakes" in the company after the deal, according to a statement released by all the firms on Tuesday. (Reporting By Michael Erman; Editing by Gerald E. McCormick)

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