Brachem Acquisition, an investment vehicle of BC Partners, Bain Capital and Goldman Sachs Group Inc. (GS), said Friday it sold a 14% stake in German chemicals distributor Brenntag AG (BNR.XE) for EUR577.5 million.

Brachem sold 7 million shares at EUR82.50 each, reducing its stake in Brenntag to just below 14%.

At 1045 GMT, Brenntag shares traded 2.3% lower at EUR84.80.

Private equity funds advised by BC Partners, Bain Capital and Goldman Sachs have bundled their Brenntag shares at Brachem.

Brachem acquired Brenntag in 2006, and sold a first stake in the company with an initial public offering in March 2010 at EUR50 per share.

-By Steffen Gosenheimer and Friedrich Geiger, Dow Jones Newswires; +49 69 29725 506; friedrich.geiger@dowjones.com

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