SPAIN - BC to divest Teknon

Despite the backer's valuation, however, analysts have suggested that the company's book value is closer to EUR 90m. Negotiations with Spanish health insurance company Adeslas, which had expressed interest in the target, appear close to collapse as the insurer is unwilling to pay more than EUR 130m.

Teknon offers oncology and gynecological treatment and employs some 747 staff. Last year it reported a EUR 66.7m turnover, with company debt standing at EUR 16.6m.

BC Partners acquired the business in 2004 from health group Tenet in a deal valued at EUR 70m, of which EUR 44.7m equity and EUR 25.4m was leverage.

Rothschild has been appointed to handle the sale.

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