Onex to sell KraussMaffei for 925 million euros to ChemChina

January 11, 2016 1:39 AM

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Jan 11 Canada's Onex Corp and its affiliate Onex Group said on Sunday they sold KraussMaffei Group, a German plastics processing machinery maker, to China National Chemical Corp for a cash enterprise value of 925 million euros ($1.01 billion).

According to the deal, Onex Group will receive proceeds of about 670 million euros, while Onex Corp will get 180 million euros, including carried interest of 12 million euros.

Also read: Deutsche Bank makes 278 million euros, strengthens buffers

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