Rockwood sells France-based Novasep for €425m

Author: Stefan Baumgarten

2006/11/30

TORONTO (ICIS news)--US specialty chemicals maker Rockwood said on Thursday it has agreed to sell its France-based Groupe Novasep subsidiary for €425m ($560m).

The buyers are private equity firm Gilde Buyout Partners, Banexi Capital and Groupe Novasep management. Rockwood expects the sale to close by 31 January.

New Jersey-based Rockwood holds 78.6% of Novasep while Groupe Novasep management holds the balance.

Novasep is a fine chemicals and pharmaceutical services company.

$1 = €0.76