Cinven to sell French diagnostics business for 1 bln euros - FT
11/05/2014 21:25
May 11 (Reuters) - Private equity firm Cinven CINV.UL is looking to sell its French diagnostics business Sebia in a deal expected to be worth around 1 billion euros ($1.38 billion), the Financial Times reported. The London-based group will appoint an advisor to manage the sale in the next few weeks, the British newspaper said, quoting two people with knowledge of the plan. Private equity groups and trade buyers are expected to put in bids for Sebia, which makes testing equipment for identifying diseases such as blood cancer. Sebia's earnings before interest, taxes, depreciation, and amortization have increased by an average 10 percent annually since it was acquired by Cinven for 800 million euros in 2010. ($1 = 0.7269 Euros) (Reporting by Tasim Zahid in Bangalore) ((tasim.zahid@thomsonreuters.com)(Within UK +44 20 7542 1810, outside UK +91 80 674 91136)(Reuters Messaging: tasim.zahid.thomsonreuters.com@reuters.net)) Keywords: CINVEN SALE/