German porcelain maker Rosenthal, which was 91% owned by Waterford Crystal, has been sold to Italian cutlery maker Sambonet for about €20m. Founded in 1879, Rosenthal had initially been expected to be put on the market last year by Waterford Crystal, with an asking price of between €150m and €200m. Reports at the time said the company had hired JP Morgan Casenove to advise it after a number of approaches for Rosenthal were made by industry players.

However, Waterford Crystal went into receivership in January, with Rosenthal going into insolvency administration soon afterwards. Most of Waterford's assets were later acquired by US-based KPS Capital.

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