2013 Exhibitions
3i to sell Mold-Masters?
A report in the UK-based Financial Times states that London public-listed private equity firm 3i Group is looking for buyers of at least four companies in its portfolio, including Canadian hot runner/temperature control maker Mold-Masters.
The report says that 3i has hired Morgan Stanley to advise on the sale of Mold-Masters, which is valued at about US$710 million.
3i recently sold all of its remaining 16.7% stake in German engineering group Norma for about US$142.2 million. The sale is in line with an overhaul of the firm under the helm of a newly appointed CEO who is seeking to beef up 3i's earnings and return more cash to shareholders.
3i invested US$135 million for a stake in family-owned Mold-Masters in 2007.
(PRA)
