EQT May Offer Under €300 Million for Springer

LONDON (Reuters) – Private equity firm EQT may make an offer of under 300 million euros for German publisher Springer Science and Business Media this week, the Sunday Telegraph reported, which is less than originally expected.

The report said EQT could make an offer this week of under 300 million euros ($452.2 million) for the group, giving it an enterprise value of around 2.4 billion euros. Sources familar with the deal had previously told Reuters the group was valued at around 2.6 billion euros including debt.

Bankers told Reuters on Thursday that EQT’s lenders were meeting this week to discuss a 1 billion pound underwritten loan as part of its bid. The bankers said the deal was relatively far advanced, indicating that a bid was imminent.

No one at EQT was immediately available to comment. Springer’s private equity owners Candover (CDI.L) and Cinven [CINV.UL] have also so far declined to comment on the sale reports. ($1=.6634 Euro) (Reporting by Kate Holton; editing by Karen Foster)