Cinven Buys Rockwood Holdings Inc's Ceramics Business CeramTec For €1.49 billion

Rockwood completes sale of advanced ceramics business

6:37 AM, 5th September 2013
Rockwood Holdings Sells Its Ceramics Business CeramTec

PRINCETON, US: Rockwood Holdings Inc has completed the sale of CeramTec, its advanced ceramics business to Cinven, a European private equity firm for purchase price of €1.49 billion, subject to customary adjustments. Rockwood has received net cash proceeds of over $1.75 billion, net of all transaction adjustments, fees and taxes.

“We are pleased with the expeditious timing and execution to close this transaction. Consistent with our current focus to maintain a strong balance sheet, it would be our immediate plan to use a portion of the net proceeds to pay off our term debt,” said Seifi Ghasemi, Chairman and Chief Executive Officer, Rockwood.

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