LONDON (Reuters) – Montagu Private Equity has been granted exclusivity in the auction of Siemens’ (SIEGn.DE) ADB Airfield Solutions unit, banking sources said on Thursday.
Bank of Ireland and WestLB are leading a buyout financing of 70-80 million euros ($99.65 million) backing the purchase, which consists of term loans, working capital and bonding facilities, one of the sources told Reuters Loan Pricing Corp.
A number of private equity firms were originally interested in buying ADB Airfield Solutions, which makes runway lighting, signage and associated products, the sources said.
Montagu was not immediately available for comment. ($1=.7024 Euro) (Reporting by Alasdair Reilly and Zaida Espana; Editing by Jon Loades-Carter)