Hillebrand has shortlisted several private equity groups as potential buyers of the German liquor logistics group in a deal that could value the business at up to €1.5bn, people close to the matter said.
CVC, Onex, Rhone and Lindsay Goldberg are among those who have advanced to the second round of bidding, with offers worth 11-13 times Hillebrand’s expected 2021 core earnings of 120 million euros, the sources said, adding final bids are due next month.
Belgian investor Cobepa, which is working with Rothschild on the divestiture, put the alcoholic beverage freight forwarder up for sale as an online shopping boom during the COVID-19 pandemic saw demand for its services spike.
Hillebrand, Cobepa, Rothschild and the bidders declined to comment or were not immediately available for comment.
Source: Reuters
Can’t stop reading? Read more
Blackstone taps bond market as private credit BDCs end issuance drought
Blackstone taps bond market as private credit BDCs end issuance drought Blackstone's private...
EQT raises the stakes with revised $12.3bn bid for Intertek
EQT raises the stakes with revised $12.3bn bid for Intertek EQT has tabled an improved takeover...
Temasek’s Azalea bets on evergreen structure to democratise private equity access
Temasek's Azalea bets on evergreen structure to democratise private equity access Azalea, a unit...