3i Group PLC Agrees To Sell Panreac To Illinois Tool Works

3i Group PLC and other shareholders signed a contract to sell Panreac To Illinois Tool Works Inc. Panreac is a Spanish manufacturer and supplier of chemicals. The transaction will provide 3i more than a 2x return on its investment. In 2005, 3i invested about €25 million for a 75 percent stake in Panreac.

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