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Royal Ten Cate (TenCate) has reached an agreement with Platinum Equity, a US-based private equity investor, regarding the sale of TenCate Enbi.
The transaction is expected to close in the first half of 2015. The divestment will be valued at an amount close to book value. No further financial detail will be provided.
TenCate explains that the sale completes the Fix-It / Exit strategy that has focused its activities as a materials technology company on technical textiles.
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