GERMANY - Lindsay reduces stake in Klöckner
Following the IPO of Klöckner & Co AG in June 2006, US private equity investor Lindsay Goldberg & Bessemer has sold a further 29% stake in the German steel trader. 13.8 million shares were sold at EUR 33 each, valuing the transaction at EUR 455m. Deutsche Bank was mandated to arrange the placement. Lindsay Goldberg & Bessemer now holds a remaining 16% stake.
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