PPG receives approval from EU regulators to acquire SigmaKalon

Article Type: Industry news From: Pigment & Resin Technology. Volume 37, Issue 3.

PPG industries has announced that its proposed acquisition of SigmaKalon group from global private investment firm Bain Capital has been approved by European Union regulators. The total transaction value, including assumed debt,is approximately 2.2 billion. PPG completed the process of consulting with and obtaining advice from the relevant employee representative bodies in early October. The company anticipates that, the acquisition will close within the next 45 days. Bain Capital is a global private investment firm that manages several pools of capital including private equity, venture capital, public equity and leveraged debt assets with approximately $60 billion in total assets under management.