Investcorp have reached an agreement to buy Stahl International from Avecia (see Leather January page 8). Stahl are one of five operating units within Avecia which are themselves jointly owned by Investcorp and Cinven.
The deal, worth Euro375 million (US$334 million), was expected to be closed last month.
Avecia will use the proceeds of the sale to reduce their debt and to fund additional growth.
