
PE firms bid on Oberthur partial sale
Buyout houses including PAI partners, Advent International, Bain Capital and One Equity are believed to have made offers for part of French secure technologies specialist Oberthur.
The group would be looking to divest 60% of its smart cards activities - SIM cards, chip-and-pin banking cards - as well as the entirety of its identity documents production business, according to French daily Les Echos.
The assets would be valued at around €1bn. Second-round bidders should be short-listed this week, with a view to complete the transaction before the end of the summer.
Initially a money printer, Levallois-Perret-based Oberthur later diversified into the smart cards and secure identity documents markets. This divestment would allow it to focus solely on its printing business, as its takeover offer for rival money printer De La Rue was rejected in December 2010.
Oberthur posted a €979m turnover for 2010 - its smart cards and identity documents activities accounted for 73% and 10.4% of these revenues respectively.
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater