GREECE – Carlyle aquires chemical distribution firm
The Carlyle Group has acquired a 73.54% stake in chemical distribution company Neochimiki LV Lavrentiadis from the Athens Stock Exchange. The deal is valued at EUR 749m; EUR 19 per share.
Twenty percent of the stake was acquired from the former chairman and CEO of Lavrentis Lavreatiadis, son of the Neochimiki’s founder, with the remainder being bought from various international institutional investors. Carlyle will subsequently launch a mandatory tender offer to acquire the remaining stake at the same price per share.
The investment was carried out via Carlyle European Partners III, the firm’s third European buyout fund which closed at EUR 5.35bn last year.
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