Japanese housing equipment maker JS Group will acquire Italian building material company Permasteelisa for €573 million, The Wall Street Journal reports. JS’ unit Lixil will purchase all the shares in Permasteelisa from Cima Claddings, controlled by European private equity firms InvestIndustrial and Alpha.
The deal, which is set to take place in December, is awaiting approval from anti-trust authorities in Italy, the U.S., China and other countries. JS Group is targeting overseas sales of $12.742 billion by 2016.
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