November 22, 2010 / 5:46 PM / 7 years ago

Bain's interest in Seagate deal waning-sources

NEW YORK, Nov 22 (Reuters) - Private equity firm Bain Capital’s interest in a deal for Seagate Technology (STX.O) is waning, three sources familiar with the situation said.

The private equity firm was one of several that had been initially interested in Seagate -- the others were TPG Capital [TPG.UL] and Kohlberg Kravis Roberts & Co (KKR.N), sources familiar with the matter previously told Reuters. [ID:nN14153918]

However, KKR lost interest, sources previously told Reuters, leaving TPG Capital [TPG.UL] as remaining in the auction. A deal could still materialize, however. TPG had been trying to find equity partners, said two of the sources.

Of the three sources who spoke to Reuters, two spoke on Monday and the third spoke to Reuters on Friday.

Bain declined to comment. (Reporting by Nadia Damouni and Megan Davies, editing by Maureen Bavdek)

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