Cinven eyes €1bn from sale of blood testing business Sebia


blood_vein_170sqEuropean private equity major Cinven is said to be eyeing the sale of French diagnostics business Sebia in a deal which could see the company fetch €1bn.

The London-headquartered buyout house plans to appoint an advisor for the sale in the next few weeks according to the FT, which cited two people with knowledge of the plan.

It said that other private equity firms and trade buyers were expected to show interest in buying the business, which makes testing equipment for diseases such as blood cancer.

Cinven paid about €800m for Sebia in 2010 through a buyout from UK private equity firm Montagu, which netted a three-times return through the sale.

Copyright © 2014 AltAssets