- Freefloat exceeds 50 percent
- 11 million shares for a total price of EUR 668 million sold
Brachem Acquisition S.C.A., controlled by BC Partners funds and the majority owner of Brenntag AG, today placed 11 million shares of Brenntag AG for a price of EUR 60.75 per share with institutional investors in an accelerated bookbuilding process. Accordingly the freefloat increased from close to 30 percent to over 50 percent.
Previously, the former owner voluntarily had signed a lock-up period of six months which expired on September 29, 2010. Also after today’s transaction, funds managed by BC Partners indirectly remain Brenntag’s largest shareholder and will further support the company on its growth path. The transaction was led by Deutsche Bank.
Brenntag is the global market leader in full-line chemical distribution. Linking chemical manufacturers and chemical users, Brenntag provides business-to-business distribution solutions for industrial and specialty chemicals globally. With over 10,000 products and a vast supplier base, Brenntag offers one-stop shop solutions to more than 150,000 customers. The value-added services include just-in-time delivery, product mixing, formulation, repackaging, inventory management, drum return handling as well as extensive technical support. Headquartered in Mülheim an der Ruhr, Germany, Brenntag operates a global network with more than 400 locations in over 60 countries. In 2009 the company realized global sales of EUR 6.4 billion (USD 8.9 billion) with approximately 11,000 people.