By Arno Schuetze
FRANKFURT, Nov 11 (Reuters) - Private equity group Advent
has shortlisted four prospective buyers in the sale of its Dutch
medical supplier Mediq, which could fetch more than 1 billion
euros ($1.2 billion), sources close to the matter said.
Buyout groups Bain, CD&R, CapVest and Triton have proceeded
to the second round of bidding, they said, adding that final
offers were due in early December.
Advent and the prospective buyers declined to comment or
were not immediately available for comment.
Mediq is being marketed on the basis of full-year earnings
before interest, tax, depreciation and amortization (EBITDA) of
up to 106 million euros ($125 million), though some potential
bidders are working on assumptions of core earnings closer to 70
million euros, the sources said.
Mediq, which supplies pharmaceuticals and medical gear to
clinics and patients, is expected to be valued at 12-13 times
its estimated core earnings, they said.
Advent took Mediq private in 2013 for 819 million euros and
has since strengthened the company through a string of
acquisitions, such as that of Britain's H&R Healthcare and
Norway's Puls AS.
($1 = 0.8504 euros)
(Reporting by Arno Schuetze;
Editing by Mark Potter)
HSBC Holdings (HSBA)