CVC Capital Partners has sold its interest in Belgian-based chemicals company Taminco to buyout peer Apollo Global Management. At €1.1bn, the deal is one of the largest completed in Europe this quarter.

Apollo saw off bids from fellow private equity firms Bain Capital and Pamplona Capital Advisors to land the deal, in one of the few auction processes to be completed in the second half of the year after debt-finacing dried up in the wake of the eurozone crisis.