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BC Partners only remaining bidder for Springer Science

12 Jun 2013

book pages paper_sqPrivate equity firm BC Partners is reportedly the last remaining suitor for private equity-backed German publishing group Springer Science+Business Media.

Swedish private equity firm EQT and state-backed Singapore Investment Corporation (GIC) will decide whether to sell or float the business before the end of the week, said Reuters, citing three people familiar with the negotiations.

The offer from BC values Springer Science at €3.1bn to €3.5bn.

Earlier this month it was reported that Springer Science was looking to raise close to €760m though its previously announced IPO on the Frankfurt Stock Exchange.

Back in April it was reported that five private equity firms planned to make offers for the business that were unlikely to value it at much more than €3bn, while the owners sought up to €4bn. Springer’s German peer Bertelsmann said it had no plans to buy the business and no other trade bidders had emerged at that time.

EQT and GIC bought stakes of 82 per cent and 18 per cent respectively for €2.3bn in December 2009.

This week EQT announced a change to its governance structure following the decision to manage all funds established 2012 and onwards onshore in Europe.

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