Industri Kapital is ready to sell D

Industri Kapital has started an auction for Dyno Nobel, according to press reports. The auction, it is understood, will value the company at about $1.5bn, and it has also been suggested that Industri Kapital can make a profit of almost $300m. It is believed that the bidders are Wesfarmers, a listed Australian industrial group, and four private equity houses: Bain Capital, Permira, Apollo Management and Blackstone Partners.Dyno Nobel is a Norwegian commercial explosives and speciality chemicals business selling mainly to the mining industry and the building and construction industry. The company generates revenues of more than $1.2bn a year, and it employs 5,200 people based in 36 countries.Industri Kapital acquired a 98.54% stake in Dyno ASA in August 2000 in a public-to-private transaction worth E1,188m. It was renamed Dyno Nobel ASA, and in 2003 Industri Kapital successfully merged Dyno Nobel with Ensign-Bickford.

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