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JPMorgan’s One Equity Sells AMAG Stake to B&C Holding, RLB OOe

One Equity Partners LLC, JPMorgan Chase & Co. (JPM)’s buyout arm, sold its remaining stake in AMAG Austria Metall AG (AMAG) to B&C Industrieholding GmbH and Raiffeisenlandesbank Oberoesterreich AG.

B&C, which already owns shares in Lenzing AG (LNZ), Semperit AG (SEM) and Allgemeine Baugesellschaft Porr AG (POS), agreed to buy a 29.9 percent stake in the Austrian aluminum maker, while RLB OOe acquired 4.7 percent, boosting its holding to 16.44 percent, according to statements from the companies. The companies didn’t say how much they paid for the AMAG stakes. On the basis of AMAG’s closing share price on March 16, the stakes are valued at about 233 million euros ($307 million), according to Bloomberg calculations.

Funds advised by One Equity took control of AMAG in 2010 when it bought Constantia Packaging AG. It sold most of its shares in AMAG in an initial public offering in Vienna last year.

B&C Chief Executive Officer Michael Junghans said last year that B&C, which is the investment vehicle of a non-profit foundation dedicated to “promote Austrian entrepreneurship,” was looking for a “fourth pillar” to compliment its holding in Lenzing, Semperit and Porr.

To contact the reporter on this story: Zoe Schneeweiss in Vienna at zschneeweiss@bloomberg.net

To contact the editor responsible for this story: Boris Groendahl at bgroendahl@bloomberg.net

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