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3i Appoints BofA For Azelis Sale
3i Group is planning to sell Belgian chemicals company, Azelis.
3i Groupis planning to sell Belgian chemicals company,Azelis,The Wall Street Journalreports. The private equity firm has appointedBank of America Merrill Lynchto manage the sale.
Azelis, which distributes chemicals for paints and polymers for plastics manufacture across 26 markets in Europe, is valued at around €500 million. 3i acquired the 60% stake in Azelis for €315 million in December 2006.
Click here for the story fromThe Wall Street journal.
Click here for additional coverage fromReuters.