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Buyout groups prepare final bids for payments group Concardis - sources
December 12, 2016 / 2:03 PM / a year ago

Buyout groups prepare final bids for payments group Concardis - sources

FRANKFURT, Dec 12 (Reuters) - Buyout groups are preparing final bids for German payments group Concardis in a deal potentially valuing the group at more than 600 million euros ($636 million), people close to the matter said on Thursday.

CVC, Bridgepoint and a consortium of Advent and Bain are expected to hand in an offer for the group, which is jointly-held by several German banks, by a deadline early next week, the people said, adding that strategic players such as Wirecard have dropped out of the race.

Concardis’ largest shareholder is Deutsche Bank with a 16 percent stake while smaller stakes are held by Commerzbank, Unicredit as well as savings banks and cooperative banks. They are expected to decide on a buyer earlier next year.

$1 = 0.9439 euros Reporting by Alexander Hübner, Dasha Afanasieva and Arno Schuetze; Editing by Tina Bellon

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