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.

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