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EQT has no plans for quick exit from Ottobock, Sivantos: Reuters

Private equity firm EQT has no plans for a quick exit from either prosthetics maker Ottobock or hearing aids manufacturer Sivantos Group, EQT partner Marcus Brennecke said.

“We have invested (in Sivantos for) two and a half years. Normally we hold investments for four to five years … We have no plans to exit before the end of 2018,” Brennecke told a news briefing on Thursday.

However, he said EQT would look at any good offers that came before then.

Commenting on Ottobock, he said: “I see that in three years, at the earliest. We have to work with the majority owners and management for three, four, five years first.”

Brennecke also said that it was too soon to divest Apleona, the former real estate services business EQT bought from Bilfinger for 1.2 billion euros ($1.4 bln) in 2016.