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3i Further Reduces NORMA Stake
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2012-11-26
UK headquartered private equity group 3i further reduced its stake in NORMA Group in September by placing four million shares worth around 77 million euros with investors.

3i floated NORMA onto the market last April taking its share in the company from 73 to 31 percent. The latest move further reduces its stake by 46 percent to less than 17 percent.
NORMA was formed in 2006 through the merger of the German Rasmussen Group and ABA Group of Sweden.
NORMA has just reported 2012 first half sales up 7.4 percent to 317.7 million euros. Organic growth was 3.4 percent – the group acquired Swiss company Connectors Verbindungstechnik AG in April. Adjusted EBITA improved 7.3 percent to 57.8 million euros.
CEO Werner Deggim said: “NORMA Group is still on course for growth. We are satisfied with our performance in the first half of the year. We improved our sales and earnings once again, despite challenging economic conditions. Our order backlog remains high, showing that global demand for our products remains healthy.”
Growth in the Americas and Asia-Pacific was strong. Americas sales rose 21.9 percent to 104.3 million euros. Asia-Pacific sales increased by 31 percent to 21 million euros. EMEA sales, however, posted a minor decline, decreasing by one percent to 192.4 million euros.
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2012-11-26

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