PPG Industries Makes Bid for SigmaKalon
September 1, 2007
PITTSBURGH - PPG Industries has announced an offer to purchase SigmaKalon Group, a worldwide coatings producer based in Uithoorn, the Netherlands, from global private investment firm Bain Capital. The total transaction value, including assumed debt, is €2.2 billion. Bain Capital has granted a period of exclusivity to PPG Industries and intends to respond to the offer after discussions with appropriate employee representative bodies. Should Bain Capital accept the offer, the acquisition would be subject to customary conditions, including receipt of regulatory approval.