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London's PPM Ventures, the private equity arm of British insurer Prudential plc, said Wednesday, June 18, it has co-invested in German automotive supplier AKsys GmbH in a deal that values the business "in the hundreds of millions of euros."
The exact size of the investment and the relative shares of the three other partners already invested in the car-body acoustics, sound insulation and plastic systems specialist were not disclosed. But Thessa Holl, associate director at PPM's German office, said the deal makes PPM the second-largest shareholder.
She said she had looked...