LONDON (Reuters) – Swedish private firm EQT is set to buy German academic publisher Springer Science and Business Media this week, three people familiar with the matter told Reuters.
Private Capital | Financials
The deal will value the equity in the business at around 100 million to 150 million euros ($147.5 million-$221.3 million) and see EQT take on responsibility for Springer’s 2.2 billion euros in debt, two of the people said.
The sale comes after a long-running process, during which private equity sellers Candover (CDI.L) and Cinven [CINV.UL] initially looked to sell a minority stake for up to 500 million euros. They then moved on to an outright sale.
(Reporting by Simon Meads and Victoria Howley)