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FRANKFURT, March 10 (Reuters) - German industrial insulation specialist Kaefer is exploring a sale of a minority stake, as it seeks to cope with fallout from the COVID-19 pandemic and low oil prices and to bolster its finances for future expansion, people close to the matter said.
The family-owned company has asked Deutsche Bank to find an investor for Kaefer, which in 2019 reported revenues of 1.7 billion euros ($2 bln), the people said.
Kaefer and Deutsche Bank declined to comment.
The Bremen-based company, which employs 28,000 staff, was founded in 1918 by Carl Kaefer, who used peat to insulate the walls of cold storage spaces and whose company later expanded into access solutions, surface protection, passive fire protection, refractory and interior outfitting of buildings and ship cabins.
Japan's benchmark 10-year government bond yields edged down on Wednesday, as investors remained cautions about making bets ahead of the Bank of Japan's policy review next week.