May 16, 2018 / 6:50 AM / a year ago

Hearing aid makers Sivantos and Widex in $8 bln merger

COPENHAGEN, May 16 (Reuters) - Hearing aid makers Widex and Sivantos will merge to form a company with an enterprise value of more than $8 billion, the companies announced on Wednesday.

The combined entity will be owned by private equity firm EQT and the families which currently own Denmark’s Widex will be the largest individual shareholder, they said in a joint statement.

“The Tøpholm and Westermann families, founders and owners of Widex, will be the largest individual shareholder in the combined entity reflecting their long-term commitment to the company,” the statement said.

The firms said the aim is to become a top player globally alongside Switzerland’s Sonova and Denmark’s William Demant and GN Store Nord.

$1 = 0.8457 euros Reporting by Stine Jacobsen; editing by Jason Neely

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