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Baxi Dutch merger to fire up debt fight
03.07.09
Baxi boilers today sealed its long-awaited merger with Dutch rival De Dietrich Remeha in a move aimed at freeing up the British private-equity-owned business of its huge debts.
Baxi owners BC Partners and Electra Partners are injecting �100 million (£86 million) into the new venture, leaving them with a stake of just under a half. Remehya Group will hold the majority stake.
