Deutsche Beteiliungs has sold its stake in AvK/SEG Holding to Newage International in an all-paper deal, the size of which was not undisclosed.
Newage, of Stamford (UK), bought a 50 percent interest in Kempen-based AvK/SEG Holding. The combined company aims to make sales of about E350m.
Deutsche Beteiligungs invested E8.912m in AvK/SEG Holding in 1996 through a capital increase. Since then, revenues have risen 50 percent to about E110m.