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Report: Blackstone, Kirkbi tap adviser for sale of Armacell

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Report: Blackstone, Kirkbi tap adviser for sale of Armacell

Blackstone Group Inc. and Kirkbi Invest A/S tapped Rothschild to handle the potential sale of German insulation foam maker Armacell, Reuters reported, citing people close to the matter.

The unnamed sources told the news agency that the private equity firms are looking to sell Armacell in a deal that could be valued between €1.3 billion and €1.5 billion.

Reuters could not get a comment on the matter from Blackstone, Kirkbi or Rothschild.