18 December 2012 18:24 [Source: ICIS news]
LONDON (ICIS)--Gerresheimer has acquired a majority shareholding of ?xml:namespace>
Triveni Polymers is a leading producer of pharmaceutical plastic packaging in
Gerresheimer said it acquired a 75% stake in Triveni for an earnings before interest, tax, depreciation and amortisation (EBITDA) multiple of about 10. Triveni’s current owners will retain a 25% minority stake.
“This acquisition is well aligned to our strategy of enhancing our footprint in the emerging markets,“ said Hans-Jurgen Wiecha, Gerresheimer’s chief financial officer.
“Our global expertise combined with the excellent local manufacturing capabilities of Triveni will speed up our growth in the emerging countries,” Wiecha added.
Gerresheimer expects to close the deal later this month.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections