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Triton puts Ruetgers recap talks on hold following renewed interest

11 Oct 2012

European buyout house Triton is reported to have put plans for a dividend recapitalisation of German chemical company Ruetgers on hold after receiving renewed interest from trade buyers.

Triton, which bought Ruetgers in 2008, is said to have been nearing a deal to clinch a high-yield bond for the company last month after sale talks led by Goldman Sachs stalled, Reuters reported.

Pamplona, which was in advanced talks to buy Reutgers for over €600m, is no longer interested in buying the business, the report said. India’s Himadri Chemicals has also expressed an interest.

Potential buyers are still evaluating a price, the report added.

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