EU OKs Investcorp To Buy Danish Roofing Materials Co Icopal

BRUSSELS (Dow Jones)--The European Commission Wednesday cleared Bahrain-basedinvestment company Investcorp Bank SA (INVCORP.BH) to buy Danish roofingmaterials company Icopal A/S.

Investcorp is buying Icopal from a group of companies, including U.S.-basedmanufacturing group Carlisle Cos . (CSL). The deal is worth EUR850 million,according to an Icopal statement.

Icopal specializes in waterproof roofing materials for commercial buildings.The company has 32 manufacturing sites in Europe and the U.S., with about 4,000employees. Its annual sales are roughly EUR900 million.

Investcorp has a range of investment businesses, including a private equityarm, hedge fund operations and real estate holdings. It currently has over $10billion in assets under management.

Investcorp's takeover of Icopal was cleared under the commission's simplifiedprocedure. This clears mergers and takeovers automatically after one month if nocustomer or competitor complains.

-By Adam Cohen, Dow Jones Newswires; +322 741 1486; adam.cohen@dowjones.com

(END) Dow Jones Newswires 08-01-07 0516ET Copyright (c) 2007 Dow Jones & Company, Inc.