Permira, Goldman Sachs to hold sale of Cognis until at least end-2008 - report |
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Thu, 24 May 2007 08:17
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FRANKFURT (Thomson Financial) - Permira and Goldman Sachs will likely not sell or float German chemicals firm Cognis before the end of next year, Cognis management board member Antonio Trius told Financial Times Deutschland in an interview.'Maybe at the end of 2008, but maybe not until 2009 or 2010,' Trius was reported as saying.Goldman Sachs and Permira bought Cognis, which has annual sales of 3.4 bln eur, from Henkel KGaA in 2001.The private equity firms were in talks last year to sell the company to Bain, but talks collapsed as the parties failed to agree on a price.maria.sheahan@thomson.commas/jrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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