Blackstone is reported to have entered exclusive talks to buy Intertrust Group, the Netherlands-based trust and corporate management company owned by Dutch buyout house Waterland.
Reuters reported the news on Thursday, citing unnamed banking sources.
Banks including Bank of America Merrill Lynch, Deutsche Bank, Nomura and UniCredit are understood to be working on a debt package of €400m to €500m to support the deal, the report added.
Reports earlier this month confirmed Blackstone, Cinven and Pamplona were preparing to submit second round bids for Intertrust Group on November 7.
Carlyle and Goldman Sachs Private Equity are understood to have pulled out of the sale process, which is being handled by ING.
Previous reports suggested Blackstone and Cinven were considering partnering with HgCapital – owner of Intertrust’s Amsterdam-based rival ATC – in a bid to merge the two businesses, but this failed to materialise.
Bridgepoint, CVC and 3i were also reported to have looked at the company at an early stage.
Waterland bought Intertrust Group in 2009 for an undisclosed sum.
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