French building materials group Materis, owned by private equity investor Wendel, is rumoured to be divesting its calcium aluminates business Kerneos, according to a report in Les Echos.
The newspaper reported that the second round of bidding for Kerneos was underway, with potential suitors including French industrial minerals conglomerate Imerys SA, in addition to private equity companies Axa Private Equity, Astorg, and PAI Partners.
Wendel hinted in May 2012 that Materis could look to sell one of its four...