Japan's Toray Industries to buy TenCate Advanced Composites for 930 million euros

(Reuters) - Japan's Toray Industries, the world's largest maker of carbon-fibre composite materials, has agreed to buy TenCate Advanced Composites (TCAC) for 930 million euros (£823.8 million), the Dutch thermoplastic manufacturer said.

The deal, which is expected to be completed in the second half of 2018, is subject to approvals by regulators, TenCate said in a statement on its website. http://bit.ly/2FJjl2e

Toray expects to retain key management of TCAC following completion of deal, the company added.

(Reporting by Chris Thomas in Bengaluru; Editing by Stephen Coates)