3 May 2007

Cinven sells Klöckner Pentaplast to Blackstone for €1.3bn

European private equity firm Cinven has today announced that it and its minority partner, JPMorgan Partners, LLC (CCMP Capital Advisors, LLC manages their investment) have signed an agreement to sell Klöckner Pentaplast, the world's leading manufacturer of rigid plastic films, to an affiliate of The Blackstone Group for €1.3bn. Cinven was advised by Hengeler Mueller in connection with the disposal and by Freshfields Bruckhaus Deringer in relation to the debt financing matters and general legal advice. Cinven and JPMorgan acquired Klöckner Pentaplast in 2001.

The Freshfields team was led by corporate partner David Sonter and finance partners Christopher Davis and Martin Hutchings, with Düsseldorf corporate partner Anselm Raddatz and London associate Belinda Tucker.

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