German utility Viag AG said it had signed a memorandum of understanding with Bahrain-based Investcorp to sell Viag“s majority stake in its Gerresheimer Glas.
Finance sources said Investcorp was pay…
German utility Viag AG said it had signed a memorandum of understanding with Bahrain-based Investcorp to sell Viag“s majority stake in its Gerresheimer Glas. Finance sources said Investcorp was paying around Euros 210 million (US$ 201 million) for the stake of almost 73% in Gerresheimer. Viag itself did not give a value for the deal, saying in a statement that it had agreed to keep the terms of the transaction secret. The utility said the sale of its stake in Gerresheimer was part of its merger with rival utility Veba AG which is currently being completed.