Germany for sale: DB launches Brenntag on heels of KDG, Springer
Deutsche Bank launched a placing of a 21.4% stake in German chemicals firm Brenntag on Thursday evening just hours after finalising details of a 16.6% placing in another recently listed firm, Kabel Deutschland.
Brachem Acquisition which floated 14.95m Brenntag shares (a 29.3% stake) in March at Eu50 a share is selling up to 11m shares in the accelerated bookbuild. Brenntag closed at Eu61 a share on Thursday.
Brachem has agreed a three month lock-up on the remainder of its stake.
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