CDW textile deal wrapped up

Textile dyer CDW International is to pay $147 million to subscribe for shares and warrants in Paris-listed textile manufacturer Dollfus Mieg & Compagnie (DMC) in a deal which will also see them set up joint ventures in the Far East.

The subscription deal will give CDW an initial stake of 6.1 per cent in DMC but attached warrants will enable it to boost that to an aggregate stake of 16.3 per cent.