3i to sell Belgian chemicals distributor Azelis

Published: 30-Mar-2011

Bank of America Merrill Lynch has been hired to facilitate sale

Private equity firm 3i is reported to have kicked off the sale of Belgian chemicals distributor Azelis and has hired Bank of America Merrill Lynch to sell the company on its behalf.

3i acquired Azelis in 2007 in a deal worth €315m and the chemicals company has recently turned over €1bn. Sources for 3i have declined to comment.

Azelis operates in 26 markets across Europe and has offices in Shanghai and Mumbai serving more than 50,000 with chemicals for paints and polymers for plastics manufacture.

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