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(Reuters) - Onex Corp <OCX.TO> and Canada Pension Plan Investment Board (CPPIB) said they would sell Gates Corp to private equity firm Blackstone Group LP <BX.N> for $5.4 billion.
Gates is a division of Tomkins, which Onex and CPPIB jointly bought in 2010 for about $5 billion.
The sale is expected to close later this year, the companies said.
(Reporting By Sneha Banerjee in Bangalore)