Jan 15, 2009 9:54 AM

Greatwide Logistics Services, a national provider of non-asset-based transportation and third-party logistics services, has obtained court approval for the acquisition of Greatwide by an investor group that includes affiliates of Centerbridge Partners and The D. E. Shaw Group. The company expects to close the transaction within the next 30 days.

Upon completion of the transaction, Greatwide’s current debt will be reduced by $478 million, or 77 percent. As previously announced, the transaction will reduce the firm’s debt burden, enhance its competitiveness and financial strength, and position the company for continued growth and profitability.

Additional information about the restructuring is available at the company’s website www.greatwide.com under the News & Media section.

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