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Waterland close to buying Belgian Sarens - report.

(SeeNews) - Jul 15, 2011 - Belgo-Dutch private equity firm Waterland Belgian is nearing the purchase of a minority stake in Belgian family-owned hydraulic cranes specialist Sarens, daily De Tijd reported on Friday.

According to the paper, Waterland is negotiating a stake buy of between 15% and 20% and the talks are said to be nearing their final stage.

Sarens has mandated Banca Leonardo several months ago to help it find a financier that would be ready to take a substantial minority stake in its capital, the paper said.

Sarens, which operates a fleet of 1,250 cranes, plans to use the fresh capital to fund its expansion plans.

The Gimv XL fund and Dutch investment company HAL Holding (AMS:HAL) have also expressed previouisly interest in buying into the company.
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Publication:ADP News Belgium
Date:Jul 15, 2011
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