Onex sells KraussMaffei Group for $1 bln

By Luisa Beltran — 4 weeks ago

Onex Corp. said Sunday that it agreed to sell KraussMaffei Group to China National Chemical Corp. for 925 million euros (US$1 billion). KraussMaffei supplies machinery and systems for producing and processing plastics and rubber. Onex invested 276 million euros in KraussMaffei Group in December 2012. Once the deal closes, Onex will receive about 670 million euros in proceeds; its portion will be 180 million euros, including 12 million euros in carried interest.