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US group close pounds 1bn buyout

Sunday 02 August 1998 23:02 BST
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US group close

pounds 1bn buyout

KOHLBERG Kravis Roberts, the US buyout specialist, is close to a pounds 1bn- plus deal to buy Herberts, the paint division of Hoechst, the German chemicals and pharmaceuticals group. KKR is set to outbid rivals including the venture capital group Cinven with what would be the largest European buyout of the 1990s. Herberts operates in several European countries and specialises in paint for the automotive industry.

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