The owners of ferry operator Scandlines could put the sale on hold after failing to find a suitor willing to match their asking price of €1.4bn, Altassets has learned.
3i and Allianz Capital Partners have received a €1.3bn bid from TPG, said a person with knowledge of the matter.
Star Capital Partners and DFDS also expressed interest in Scandlines but have now ended their pursuit of the company.
Back in April it was reported that bankers were preparing debt packages of nearly €1bn for the potential sale of Scandlines, which was managed by Goldman Sachs and ING.
At least three private equity firms, Apollo, AXA Private Equity and Nordic Capital, were believed to be interested in the company.
3i and ACP acquired Scandlines for €1.5bn including €1.28bn of debt in 2007.
The business saw its EBITDA climb six per cent to €193m in 2012, while net profits jumped to €76m from €10m as it slashed its debt by €140m.
Copyright © 2013 AltAssets