Doughty Hanson to sell Impress Cooperatieve

(Reuters) – Private equity company Doughty Hanson & Co said on Saturday it will sell metal packaging firm Impress Cooperatieve U.A. to Irish bottle-making and packaging manufacturer Ardagh Glass Group for 1.7 billion euros ($2.3 billion).

The London-based equity firm said the sale will return 688 million euros to investors in its private equity funds II and III, equal to 2.6 times the investment cost for each fund.

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Doughty Hanson said in a statement Impress is the last investment to be sold from fund II, which will be closed.

Only one investment, LM Wind Power, remains in Fund III, it said.

Impress has sales of approximately 1.8 billion euros and employs 7,500 people globally, the equity company said.

(Writing by Stefano Ambrogi; Editing by Ron Askew)