| BUSINESS INFORMATION |
Private investor seeks control of catalyst maker Süd-Chemie Three corporate shareholders in the German catalysts and adsorbents producer Süd-Chemie have agreed to sell their combined 39% share in the company to One Equity Partners, an investment arm of J.P. Morgan Chase, for 35 euros per share, a 7% premium over the firm's recent average stock price. One Equity plans to offer the same price to all shareholders in July with the goal of acquiring majority ownership in the firm. The balance of Süd-Chemie's shares will continue to trade on the stock market. The offering implies a market value for the whole company of close to $500 million. Christopher von Hugo, an Equity One managing partner, says his firm "considers itself to be a long-term entrepreneurial partner" that will support Süd-Chemie in becoming a global firm. The company had sales last year of about $1 billion and has about 5,000 employees |
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