LONDON (LONDN) – Private equity firm Cinven’s [CINV.UL] purchase of French medical diagnostics business Sebia is being financed with a 340 million euro loan provided by BNP Paribas, Citigroup and Commerzbank, the banks said on Wednesday.Cinven bought the business for around 800 million euros in mid-March from Montagu Private Equity using equity to finance the [...]
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LONDON (Reuters) – Private equity firm Cinven is raising a new leveraged loan to refinance its 800 million euro ($1.1 billion) all-equity purchase of French healthcare diagnostics group Sebia International, bankers close to the deal said. Banks are offering relatively high leverage of up to six times earnings before interest, tax, depreciation and amortisation (EBITDA) [...]
LONDON (Reuters) – Montagu Private Equity agreed to sell French medical diagnostics business Sebia to rival Cinven, the latest in a series of buyouts focused in niche areas of healthcare. The deal announced on Monday values Sebia at about 800 million euros including debt, 12.5 times its 2009 earnings, sources familiar with the situation said. [...]