Onex to Sell KraussMaffei Group for €925M

Onex Corporation

and its affiliates (the "Onex Group") today announced they have agreed to sell KraussMaffei Group to China National Chemical Corporation ("ChemChina") for a cash enterprise value of EUR925 million. The transaction is expected to close in the first half of 2016 subject to customary closing conditions.The Onex Group made a EUR276 million investment in KraussMaffei Group in December 2012. Upon completion of the transaction, the Onex Group will receive proceeds of approximately EUR670 million. Onex' portion of the proceeds will be approximately EUR180 million, including carried interest of EUR12 million. "Over the past several years we've worked closely with KraussMaffei Group's management team to improve the performance of the company, further strengthening its leadership position in the global plastic and rubber processing industries," said David Mansell, a Managing Director of Onex. "We're proud KraussMaffei Group was our first European-headquartered company since opening our London office in 2012. We'd like to thank all of KraussMaffei Group's employees and management for their dedication and hard work.""We are grateful for Onex' support of KraussMaffei Group, which included significant investments in key geographic regions and new