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Private Equity Firm Cuts Stake in Brenntag Again
January 20, 2011 | Ian Young
Brachem Acquisition, controlled by private equity firm BC Partners--the largest shareholder in Brenntag--has placed an additional 7 million Brenntag shares with institutional investors in an accelerated bookbuilding process. The stock was placed at a price of €71.50/share, valuing the 7 million shares at more than €500 million. The sale increases the portion of Brenntag listed on the Frankfurt Stock Exchange to almost 64%. The shares were placed by Goldman Sachs International. It is the second placement by Brachem since Brenntag's initial public...
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