Non-core asset sale begins to gather pace

The sale of non-core assets by corporates is finally starting to materialise after months of waiting by deal-hungry buyout houses, eager for vendor price expectations to reflect reality. Currently, Acciona is putting its parking lots on the block, while Sorin Group has just sold off two of its business units in all-equity deals to buyout houses.

IP Investimenti e Participazioni acquired Sorin Vascular (now CID Investimenti). The management buyout was carried out through CID Investimenti, which becomes the new owner of the entire Sorin coronary vascular therapy business worldwide (page 34).

Similarly, Argos Soditic and MPS Venture bought Sorin Renal Care Business (now trading under Bellco). As a result of the deal, Argos Soditic will hold a 58% stake, MPS Venture 32% and the balance held by management (page 34).

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