Nordwind sells SHW stake

The company had confirmed plans to sell the 58.3% stake owned by Nordwind funds via an accelerated book-building process earlier this week. The shares were placed at €39 apiece, Reuters reported.

Nordwind acquired the company from Schwäbische Hüttenwerke SHW for €205m in 2005. Nordwind listed the business on the Frankfurt Stock Exchange in 2011. SHW's enterprise value stood at €150m at the time, allowing Nordwind to realise a €68.4m return while keeping part of its stake.

Company
Headquartered in Aalen-Wasseralfingen, SHW was originally established in 1365 and is now a supplier to the automotive industry. The group currently operates manufacturing sites in Germany, located in Bad Schussenried, Aalen-Wasseralfingen, Tuttlingen-Ludwigstal and Neuhausen ob Eck. SHW employs more than 1,000 staff and generated a €325m turnover in 2012.

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