French holding company Wendel Investissement is in talks to buy specialty materials maker Groupe Materis for more than EUR2bn, local press reported.
Last month Eurazeo announced a period of exclusive talks with LBO France, the existing owner of Materis, but said on December 22 that it was abandoning its plan to buy the company.
Materis, a maker of specialty chemicals for the paint, plaster, calcium aluminates and concrete and cement industries, has annual sales of about EUR1.5bn, with 7500 employees. It operates in 35 countries.
LBO France bought Materis in Sept 2003 from Lafarge and investment funds Carlyle, CVC Capital Partners and Advent International for about EUR1.5bn.