From the Wall Street Journal Blackstone to Buy Minority Stake in Leica - WSJ.com Blackstone (Blackstone) took a minority position in Lecia (page B8 from 10/12 edition for you paper readers). It says Leica's revenues were 250 Euro, and the minority stake of 44% cost 130 Euro. That's just a little higher valuation of 1X earnings, which is not a strong statement of worth. It also says Leica has turned to profitability, and recently paid a dividend (which means it's making, and not losing, money). Blackstone said there are opportunities to move into emerging markets (Asia, Latin America, etc.) that the investment can help with, and the return window is "medium to Long Term." I think this is good news. The market needs a healthy Leica, shipping good products.