British building products maker Caradon Plc announced it had sold its 94% stake in Germany“s Weru, a doors and windows maker, for around DM 240 million (about UK 80 million).
The spokesman for Carad…
British building products maker Caradon Plc announced it had sold its 94% stake in Germany“s Weru, a doors and windows maker, for around DM 240 million (about UK 80 million). The spokesman for Caradon said it was selling the stake to the management of the company which has been backed by venture capital investors. The consideration is being paid in DM 200 million in cash and DM 40 million in loan notes. The sale will enable Caradon to focus on plumbing, electrical products and aluminium extrusion.