Rockwood to Sell CeramTec to Cinven for Approximately $1.98B
Rockwood Holdings, Inc. (NYSE: ROC) announced today it entered into a
definitive agreement to sell CeramTec, its advanced ceramics business to
Cinven, a European private equity firm for EUR 1.49 billion gross
proceeds (~USD $1.98 billion), subject to customary adjustments.
Cinven has obtained fully committed financing for this transaction,
which is expected to close during the third quarter 2013 following
receipt of appropriate regulatory approvals, including the EU
Competition Clearance Authority.
“Successful execution of this transaction at an attractive multiple will
bring Rockwood one significant step closer to our strategic objective
and commitment to become a more focused specialty chemical company with
a growth portfolio that best maximizes