Date published: April 1, 2012
Steinway Musical Instruments, Inc. has reached an agreement in principle to sell its band division.
The investor group interested in buying the company's band division is led by two current directors of the company: Dana Messina, former chief executive, and John Stoner, ConnSelmer president. Samick Musical Instruments Co. Ltd, the owner of 33 percent of the Steinway s common stock, will provide a portion of the financing and acquire a significant equity interest in the buyer.
For more information, visit www.steinway. com.