Germany-based Deutsche Beteiligungs (DBAG) has agreed to divest three-quarters of its shares in processing and packaging technology provider Romaco Group to a Chinese engineering company Truking Group for an undisclosed sum.

DBAG Fund V, managed by DBAG, will also divest a proportionate share of its holding in order to allow both the companies to hold a 24.9% interest in Romaco.

These remaining shares will be transferred within the next three years and will enable DBAG and DBAG Fund V to support Romaco’s transition to Truking Group.

Completion of the newly announced deal is subject to regulatory approval.

"Romaco has clearly moved forward in recent years, and the sale successfully concludes that strategic development."

Deutsche Beteiligungs board of management member Dr Rolf Scheffels said: “Romaco has clearly moved forward in recent years, and the sale successfully concludes that strategic development.

“Romaco can now seize the opportunities inherent in its improved market position in Asia. We are delighted to be in a position to participate in this step, too.”

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In April 2011, DBAG and DBAG Fund V acquired Romaco, the sale of which is expected to bring around €6bn in income by the end of second quarter of 2016 / 2017.

Romaco Group CEO Paulo Alexandre said: “Our products and our geographical presence ideally complement the business of our new owner Truking – there is no overlap.

“Romaco will now have markedly broader access to the promising Chinese market, which creates major opportunities for further growth.”

The company is involved in the designing and manufacturing of packaging system solutions for the pharmaceutical market.

It currently employs 550 members across its headquarters and seven other sites.