Reuters logo
UPDATE 1-EQT has no plans for quick exit from Ottobock, Sivantos
September 7, 2017 / 5:57 PM / 2 months ago

UPDATE 1-EQT has no plans for quick exit from Ottobock, Sivantos

(Adds further comment on Sivantos, ProSiebenSat.1)

MUNICH, Sept 7 (Reuters) - Private equity firm EQT has no plans for a quick exit from either prosthetics maker Ottobock or hearing aids manufacturer Sivantos Group, EQT partner Marcus Brennecke said.

* “We have invested (in Sivantos for) two-and-a-half years. Normally we hold investments for four to five years ... We have no plans to exit before the end of 2018,” Brennecke told a news briefing on Thursday.

* However, he said EQT would look at any “extremely good offer which anticipates future value” that came before then.

* Commenting on Ottobock, he said: “I see that in three years, at the earliest. We have to work with the majority owners and management for three, four, five years first.”

* Brennecke said it was too soon to divest Apleona, the former real estate services business EQT bought from Bilfinger for 1.2 billion euros ($1.4 bln) in 2016.

* Asked whether EQT could invest in the media sector, Brennecke said the firm had no interest in “old media” such as printers or traditional publishers but could invest in digital media, without naming possible targets.

* Asked about ProSiebenSat.1 Chief Executive Thomas Ebeling’s strategy of combining traditional broadcasting with digital media, Brennecke said: “Looking from the outside, it makes sense. We understand him.” ($1 = 0.8326 euros) (Reporting by Joern Poltz; Writing by Maria Sheahan; Editing by Susan Fenton and Edmund Blair)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below