Rockwood agrees to sell CeramTec to Cinven for 1.49 bln eur

FRANKFURT, June 16 Sun Jun 16, 2013 8:13am EDT

FRANKFURT, June 16 (Reuters) - Rockwood Holdings said on Sunday it has entered into a definitive agreement to sell CeramTec, its Germany-based advanced ceramics business, to private equity firm Cinven for 1.49 billion euros.

A statement issued in Frankfurt said Cinven had obtained fully committed financing for the transaction, which is expected to close in the third quarter of this year following regulatory approvals.

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After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.