Three private equity firms have emerged as the frontrunners in the sale process for more than Euros 500 million (US$ 489 million) of Gerresheimer Glas, one of a number of businesses being sold by Viag…
Three private equity firms have emerged as the frontrunners in the sale process for more than Euros 500 million (US$ 489 million) of Gerresheimer Glas, one of a number of businesses being sold by Viag, the German utility. Doughty Hanson of the UK, Kohlberg, Kravis & Roberts, the US leveraged buyout firm and Investcorp, the Bahrain-based investment group are expected to hear which of them has been chosen to acquire the asset. The deal, if completed, is likely to strengthen the reputation of private equity firms in Germany. Traditional companies such as F Grohe, the bathroom products business and Robert Bosch“s telecommunications interests have recently been sold to venture capitalists, sparking an awakening of interest in financial sponsors in Germany. Viag is expected to dispose of a raft of non-core assets, including Gerresheimer Glas, as part of its merger with rival Veba. In October, it appointed Lehman Brothers to handle the sale of Gerresheimer.