The sale of German energy metering firm Ista is heating up as a number of takeover houses including Axa Private Equity and BC Partners prepare to submit second round bids, banking sources said on Wednesday. Private equity groups Charterhouse and CVC Capital Partners kicked off the sale of Ista last year, hiring Deutsche Bank and Goldman Sachs to run the process.The sellers are hoping to tap into a growing appetite for deals among private equity groups sitting on large cash piles after a dearth of M&A activity last year, with Ista seen as a solid earner with growth potential.First round offers were submitted last month for Ista which has a price tag of around 3 billion euros ($3.85 billion), making this one of the biggest private equity transactions in Germany this year.Charterhouse bought Ista at the height of the buyout boom in 2007 for 2.4 billion euros from CVC, backed with 2.1 billion debt, according to Thomson Reuters LPC data. CVC later bought back 24 percent.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI remained unchanged at $32.38. In the past year, the shares have traded as low as $26.20 and as high as $32.89. On average, 1041410 shares of TRI exchange hands on a given day and today's volume is recorded at 0.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.27% or $-0.09/share to $32.84. In the past year, the shares have traded as low as $26.65 and as high as $33.54. On average, 1124320 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 0.
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