De Dietrich deal close for Baxi

Boilermaker Baxi is on the verge of completing a &euro;1.7bn (&pound;1.4bn) tie-up with De Dietrich Remeha Group, a small Dutch rival, it emerged last night. The deal will allow Baxi to deal with its debt problem. Talks are expected to finish this summer. Baxi will end up with just less than half a stake after its private equity owners invest &euro;100m in the merged group.<br />