Private equity owners exit nappy maker Ontex-Reuters

(Reuters) – Texas Pacific Group and Goldman Sachs have sold their stake in Belgian hygiene products maker Ontex, the groups said in a joint statement on Friday.

Ontex listed on the Brussels stock exchange in June 2014 but TPG and Goldman kept a 22 percent stake in the company through a joint investment vehicle called Whitehaven B.

The investors said they placed their shares at 25.50 euros a piece and had sold all of their stake in the group. The sale involved all of Whitehaven B’s shares plus around 1 million shares on behalf of others.

The total proceeds of the sale were about 400 million euros ($440 million) .

Ontex listed at 18 euros a share, opening at 18.50 on its first trading day. The shares closed at 26.10 euros on Thursday.