Kohlberg to buy grand piano maker Steinway for US$438m

Steinway’s pianos have been used by legendary artists, including Cole Porter and Sergei Rachmaninoff, and by contemporary ones like Chinese concert pianist Lang Lang. Photo: Xinhua

Steinway Musical Instruments, the 160-year-old manufacturer of pianos, saxophones and trumpets, said it had agreed to be acquired by private equity firm Kohlberg & Co. in a deal valued at about US$438 million (HK$3.4 billion).

Tuesday, 2 July, 2013, 11:19am