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Blackstone, Carlyle, Cinven, through to second round for Intertrust

21 Sep 2012

Blackstone, Carlyle, Cinven and General Atlantic are reported to have made it through to a second round of bidding for Intertrust Group, the Netherlands-based trust and corporate management company owned by Dutch buyout house Waterland.

ING, which is handling the sale, received first round bids on September 12 and has asked bidders to submit second round offers next month, Reuters reported Friday, citing unnamed banking sources.

Banks are understood to be putting together debt packages of between €400m and €500m to back a potential deal, the report said.

Bridgepoint, CVC, 3i, Goldman Sachs Private Equity and Pamplona are also said to have looked at the company at an early stage, the report added.

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