3i, the London-listed global private equity firm, has sold its 48% stake in Diab, a Swedish core materials manufacturer, to local investor Ratos.
Ratos already held a 48% interest in Diab prior to the transaction, which will generate proceeds of Skr400m (US$48m) for 3i. Management hold the balance of Diab.
Laholm, Sweden-based Diab manufactures materials for applications in marine, wind energy, transport and aerospace industries. The business has more than 1,200 staff and reported approximately Skr1.35bn in revenues in 2007.
3i first acquired its investment in Diab through the acquisition of Atle in April 2001. Ratos and 3i carried out a refinancing in 2007.
3i’s other investments in the industrials sectors include Transports Alloin, ABX Logistics and Damcos, all now divested, as well as AES Engineering, Scandlines and Norma Group.
Source: Thomson Merger News
If you do not receive this within five minutes, please try and sign in again. If the problem persists, please
email: subscriptions@peimedia.com.