Onex Corp. is likely to divest stake in two companies through initial public offerings (IPO) in 2010, the Globe and Mail reported. The report stated quoting unidentified people that Onex is likely to sell stake in Husky Injection Molding Systems Ltd that may value the company at more than $1.3 billion. It will also sell stake in The Warranty Group, Inc which may be worth about $1 billion. At a conference call last week, Executives of Onex said that they expect at least two IPOs in 2010. The Globe and Mail reported that a range of initial public offerings are likely on the Toronto Stock Exchange over the coming months for businesses that include airlines and wireless infrastructure.

The Board of Directors of Onex Corporation declared a fourth quarter dividend of $0.0275 per Subordinate Voting Share payable on January 29, 2010 to shareholders of record on January 8, 2010.

Onex Corporation said that the company is well positioned to capitalize on investment opportunities, with $900 million of cash and near-cash investments. Gerald W. Schwartz, Chairman and Chief Executive Officer of Onex Corporation said, “We remain optimistic that there will be attractive acquisition opportunities for us. Onex' experience in corporate carve-outs from large multi-nationals, distressed-for-control investing, and restructurings generally positions us well, as we expect these opportunities will arise in the current environment. These types of transactions tend to be complex in nature and require lengthy due diligence and negotiations. We have had success with these acquisitions in the past and hope to find similar situations in the future where we can acquire businesses at reasonable purchase prices and create value through earnings growth. With approximately $900 million of cash and near-cash investments, no debt and $3.5 billion of uncalled third-party capital available, Onex remains well positioned to actively participate in significant investment opportunities.”