Sherwin-Williams wins U.S. antitrust approval to buy Valspar: FTC
WASHINGTON Paint-maker Sherwin-Williams has won U.S. antitrust approval to buy U.S. rival Valspar Corp , the Federal Trade Commission said on Friday.
MADRID Bahrain-based Investcorp is studying the sale of Spanish ceramic glazes firm Esmalglass in a deal that could be worth close to 600 million euros ($640.68 million), three sources with knowledge of the deal said.
Investcorp is finalizing an agreement to give Deutsche Bank (DBKGn.DE) the mandate to advise on the sale of Esmalglass, which it bought in 2012, the sources said.
Esmalglass's valuation would be about six or seven times its earnings before interest, tax, depreciation and amortization (EBITDA), one source said.
In 2016 Esmalglass recorded an EBITDA of close to 80 million euros, according to two sources with access to its accounts, which are not public.
Investcorp, a private equity investor, and Deutsche Bank declined to comment.
Esmalglass has 305 million euros in debt, according to Thomson Reuters data, and its main creditors are JP Morgan (JPM.N), Barclays (BARC.L) and Deutsche.
The company, headquartered in Spain's Valencia region, operates in 10 countries, including China and Brasil, and has over 1,000 employees.
(Additional reporting by Arno Schuetze in Frankfurt, Writing by Angus Berwick, Editing by Sarah White)
MUNICH German industrial gases group Linde's supervisory board is due to vote on a merger agreement with U.S. peer Praxair on June 1, two people close to the matter told Reuters on Friday.
Soft drink maker PepsiCo Inc is in talks to acquire All Market Inc, the owner of coconut water brand Vita Coco, whose celebrity investors include Madonna and Matthew McConaughey, people familiar with the matter said on Friday.