EU Clears Bain Capital To Buy Bavaria Yachtbau

August 08, 2007, 1:09 a.m. EDT 1 Min Read

BRUSSELS (Dow Jones)--The European Commission Tuesday cleared U.S. privateequity firm Bain Capital LLC to buy German yacht-maker, Bavaria Yachtbau GmbH.

The deal is valued around EUR1.3 billion.

The deal was announced in June. Family-owned Bavaria Yachtbau chose BainCapital from among several other bidders, including U.K.-based Cinven Group Ltd.

Bavaria Yachtbau specializes in mid-market sailing and motor yachts. It built3,500 yachts with sales of EUR271 million in the year ending July 31, 2006.

The acquisition was approved under the commission's simplified procedure forclearing mergers. Under this procedure, the deal is approved automatically afterone month if no-one lodges a complaint.

-By Haitham Jendoubi, Dow Jones Newswires; +32 2 741 1480; haitham.jendoubi@dowjones.com

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