Vista Capital looking to sell Indas

The company is estimated to be worth $1bn including debt. According to media reports, Morgan Stanley was instructed to examine possible sales options as well as a refinancing of the company.

Vista Capital de Expansión and Ibersuizas acquired Indas in 2007 for €360m in which Vista acquired 75% and Ibersuizas the remaining 25%. Intermediate Capital Group PLC provided a mezzanine facility for the deal and Intermediate Capital Group arranged a debt structure.

Madrid-based Laboratorios Indas is a manufacturer of sanitary and hygienic products. Founded in 1950, the company distributes in products in more than 20 countries including the UK, Chile and South Africa. Indas had a turnover of €162.6m in 2010 and currently employs about 460 people.

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