EQT frontrunner for Siemens' hearing aids

The potential deal is valued at more than €2bn and would be one of the biggest deals in European private equity this year, as well as EQT's largest in 2014, according to unquote" data.

The only investments to exceed the €2bn mark this year have been Nordic Capital's €2.3bn deal for Lindorff, and Advent, Bain and ATP's €2.27bn acquisition of payment services provider Nets.

Siemens said it intended to list its Audiology Solutions unit earlier this year, but weakening equity markets made an IPO exit route less attractive. However, should the current sale process fall through, an IPO may yet be pursued.

The German conglomerate's board is expected to make a decision on the deal by 5 November, according to reports.

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• DACH
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• Permira