December 1, 2016 / 7:26 AM / a year ago

Xella says owners agree sale to Lone Star

FRANKFURT, Dec 1 (Reuters) - PAI Partners and Goldman Sachs’ investment arm, the owners of building materials maker Xella, have agreed to sell the company to Lone Star, Xella said in a statement on Thursday.

No further terms were disclosed and Xella said the closing of the transaction was expected in the first half of 2017.

Sources told Reuters in October that Lone Star had been shortlisted in the sale of Xella, a potential 2 billion euro ($2.1 billion) deal. ($1 = 0.9416 euros) (Reporting by Christoph Steitz; Editing by Susan Fenton)

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