PAI Partners expects bids for French lab business Cerba on Decemeber 8, say sources: Reuters

Private equity group PAI Partners expects to receive bids for its French lab testing chain Cerba on Dec. 8 in a deal that could be worth as much as 1.8 billion euros ($1.92 billion), two sources close to the matter said on Friday.

PAI Partners bought Cerba in 2010 for 551 million euros and hired JP Morgan (JPM.N) and Natixis earlier this year for a sale process.

Cerba operates clinical pathology laboratories in Europe with a number one position in France and strong market positions in Belgium, Luxembourg and Africa, according to PAI’s website.

PAI Partners could not immediately be reached for comment.