Finland-based stainless steel producer Outokumpu has received private equity bids for its alloys division VDM from firms including Triton Partners, Apollo Global Management and KPS Capital, German newspaper Handelsblatt has reported.
The offers fell short of the €1bn target that Outokumpu was seeking, it said.
VDM is part of steel company Inoxum, which Outokumpu bought from ThyssenKrupp last year.
Back in 2005 Outokumpu sold its copper manufacturing division to Nordic Capital.
Earlier this year Triton Partners reportedly held a €3.3bn first and final close for the largest-ever private equity fund raised by a Germany-based manager.
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