21 Centrale to purchase Arjowiggins' security unit

21 Centrale Partners is also in exclusive negotiations to purchase Arjowiggins' security unit for an enterprise value of EUR350m. A pool of 10 banks is reportedly working on organising debt to fund the acquisition.

Arjowiggins is a producer of fine paper for uses such as bank notes and passports. The security unit of the company generated an edbitda of EUR40m in 2007. Last month ICSO-IRDI purchased Bernard Dumas, a microfibre components producer, from Arjowiggins for EUR10m.

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