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ITALY - Sicurglobal auction to finalise in July

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Market sources speculate that the competitive process for security business Sicurglobal should end in the second week of July. It is understood that private equity firms Stirling Square Capital Partners, Cognetas, 21 Investimenti and Synergo - all owners of businesses operating in that same segment - have presented bids.

BS Investimenti, owner of Sicurglobal, has attempted a Piazza Affari flotation last year, but interrupted the process. After a series of add-on acquisitions, the private equity firm then hired JP Morgan to sell the business. Sicurglobal has posted a turnover of EUR 150m in 2006 with an EBITDA of EUR 22.5m. Apparently, BS will be looking to get at least EUR 180m, but the scarcity of targets in the sector could increase the company's price tag to EUR 200m.Rumour has it that Synergo, via its portfolio company AllSystem, is the likeliest buyer.
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