Weil Steers $4B Grohe Sale, Japan's Biggest German Buy

Law360, New York (September 26, 2013, 11:22 AM EDT) -- Lixil Group Corp. teamed with state-owned Development Bank of Japan to take control of private equity-owned German bathroom products maker Grohe AG in a €3.06 billion ($4.13 billion) deal, the companies said Thursday, marking the largest Japanese investment in Europe's crown-jewel economy.

In the deal, the Japanese partners will split an 87.5 percent interest in the company, currently held by Texas-based investment firm TPG Capital and the private equity branch of Credit Suisse AG. The buyers did not give a specific financing breakdown but said they...
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