PE-firm Brait sells out of Freeworld Coatings

South African private equity firm Brait has sold a 19 percent stake in Freeworld Coatings, a Johannesburg-based paint company, to Japan’s Kansai Paint. Kansai Paint has bought a 25 percent stake overall in the company. Brait had previously attempted a 1.7 billion rand ($248.3 million) takeover of Freeworld, but it was rejected by shareholders.

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