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Japan/Germany: Restroom fittings firm to get new ownership

 |  September 26, 2013

Lixil Corp., based in Japan, has reportedly reached an agreement to acquire Germany-based bathroom fittings manufacturer Grohe.

The deal gives a more than $4 billion price tag on Grohe, say reports, though financial details of the transaction were not disclosed.

The German company announced the deal Thursday, revealing that Lixil, along with the Development Bank of Japan, will acquire an 87.5 percent stake in the company from its current owners, investing firms TPG and DLJ Merchant Banking Partners.

Grohe will reportedly continue to operate independently.

Full Content: ABC News

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