Pamplona in talks to buy Triton-backed Ruetgers


Pamplona Capital Management, the private equity firm backed by Russian billionaire Mikhail Fridman’s Alfa Group, is reported to be in advanced talks to buy chemicals company Ruetgers from rival European buyout house Triton Partners for over €600m.

Triton is understood to have put the business up for sale earlier this year with a price tag of up to €700m, according to Reuters. Goldman Sachs is said to be handling the sale process.

Triton was hoping to find a buyer for the business in Asia, where the coal tar industry – Ruetgers specialism – is growing rapidly, the report said.

Indian chemicals company Himadri is said to have expressed interest in the company, although the pair were unable to reach a deal, the report added.

This is an issue that is also likely to arise from talks with Pamplona, which is hoping to pay less than Triton’s asking price.

Triton bought Ruetgers in 2008 from speciality chemicals company Evonik for an undisclosed sum.

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