EQT, GIC to float Springer Science

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book pages paper_sqThe private equity owners of German publishing group Springer Science reportedly opted for an IPO after talks with buyout firm BC Partners collapsed.

Swedish private equity firm EQT and state-backed Singapore Investment Corporation have cancelled plans to sell the business and will now float it, said Reuters, citing two people familiar with the matter.

Earlier this week it was reported that BC Partners was on the verge of acquiring Springer.

The firm reportedly offered more than €3bn to EQT and GIC, which initially sought up to €4bn.

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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