Blackstone et al. in second round bids for Intertrust

The three GPs will be bidding for the business sold by Waterland in the second round of the auction on 7 November, Reuters reported.

The transaction is said to have attracted interest from banks which are expected to provide a debt package worth around €400-500m. The business currently has €250m in debt on its books.

Waterland bought Intertrust in September 2009. The business employs 1,000 people in 20 countries globally; its core business is setting up and managing holding companies.

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