* Buying 5 pct for more than 600 mln euros - sources
* Evonik share listing planned for late April
BERLIN, March 10 (Reuters) - Singapore state investor
Temasek Holdings will take a stake in Evonik Industries
, two sources close to one of the German company's
owners told Reuters.
Temasek will spend more than 600 million euros ($779
million) for 5 percent of the Essen-based chemicals company,
which is preparing for a stock market share listing, the sources
said on condition that they not be identified.
German magazine Wirtschaftswoche reported on Saturday that
Temasek and Evonik had agreed the sale.
A spokesman for Temasek declined to confirm the deal.
The RAG trust, which owns 75 percent of Evonik, and buyout
firm CVC Capital Partners, owner of the rest, said last
month that they had placed a small stake with institutional
investors as a prelude to an initial public offering (IPO).
Sources close to the matter said that the listing could
value the company at 14 billion euros. Stock market trading of
Evonik shares is planned for late April.
Evonik, RAG and CVC all declined to comment on whether a
sale to Temasek had been agreed.
($1 = 0.7703 euros)
(Reporting by Matthias Inverardi, Alexander Huebner and John
O'Callaghan.; Writing by Andreas Cremer; Editing by Ruth
Pitchford and David Goodman)
Source: http://news.yahoo.com/singapores-temasek-buy-stake-germanys-evonik-sources-130212378--sector.html
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