France's Materis in talks to sell Kerneos - Reuters
French private equity firm Wendel said on Thursday that its building materials business Materis is in exclusive talks to sell calcium aluminates maker Kerneos to buyout firm Astorg Partners for 610 million euros ($827 million), writes Reuters. The deal, which represents a multiple of 8.4 times earnings before interest, tax, depreciation and amortisation over the 12 months to Sept. 30, could be finalised in 2014 after consultation with employee representative bodies and subject to regulatory approvals.
5 December 2013•1 min read
