September 26, 2012 / 10:22 AM / 5 years ago

Onex to buy Germany's KraussMaffei for $736.3 mln

Sept 26 (Reuters) - Canadian private equity giant Onex Corp said it will buy German plastics machinery maker KraussMaffei AG for 568 million euros ($736.3 million).

"KraussMaffei is the first European-based investment for Onex Partners III, and, ... serves markets globally," said Tony Morgan, a managing director in Onex's London office.

Onex Partners III, Onex's $4.7 billion flagship private equity fund, will make an equity investment of about $340 million.

Sources close to the transaction told Reuters on Tuesday the deal was about to be signed, but declined to give financial details.

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