UPDATE 2-EQT close to deal for Springer SBM - sources

* Deal values Springer equity at 100-150 mln euros- sources

* Agreed deal to be unveiled this week - sources

(Adds detail, background)

By Victoria Howley and Simon Meads

LONDON, Dec 9 (Reuters) - Swedish private equity firm EQT is set to scoop up Springer Science and Business Media this week in a bargain buy, showing the contrasting fortunes of buyout houses as stronger firms profit from their weaker rivals.

The deal will value Springer's [SPSBM.UL] equity at around 100 million to 150 million euros ($147.5 million-$221.3 million), two sources said, giving the business an enterprise value of less than 2.4 billion euros.

The sum is below the 400 million euro equity value mooted as a price when publisher Informa Plc (INF.L) was still in the race [ID: nGEE5AN0BD], and also far below the 500 million euros sellers Candover (CDI.L) and Cinven [CINV.UL] initially sought for just a minority stake.

EQT was advised by Deutsche Bank (DBKGn.DE), while Goldman Sachs (GS.N) and UBS (UBSN.VX) are advising Candover and Cinven. All three private equity firms and their banks declined to comment.

A latecomer to the table, Informa walked away from the deal earlier this month, leaving the way clear for EQT, co-founded by the Wallenberg family's Investor AB vehicle (INVEb.ST), to negotiate a knock-down deal for the business.

The deal is priced to account for the fact that EQT will be taking on Springer's 2.2 billion euro debt pile and reflects similar valuation multiples for rival listed publishers, such as Reed Elsevier (REL.L), two of the people said.

The deal will give EQT, full control of the company and allow Candover and Cinven to exit the business they formed in 2003 through the merger of BertelsmannSpringer with Kluwer Academic Publishing.

DEBT RETURNS

Candover was left fighting for survival as a slow year for European mergers and acquisitions came to a close, and the sale of Springer is a sign of contrasting fortunes, with EQT profiting from Candover's woes.

Cinven's portfolio has encountered less stress from too much debt, but it also shook up management this year alongside rivals such as Terra Firma [TERA.UL] and Permira [PERM.UL] as the sector faces greater pressure from investors.

The sale also demonstrates returning risk appetite at banks after EQT lined up a 1 billion pound ($1.63 billion) loan underwritten by Barclays (BARC.L), Deutsche, Goldman Sachs and UniCredit. [ID: nGEE5B22KK]

The long-running sale process has seen Candover and Cinven move from the sale of a minority stake sale to a divestment of the entire business, as initial bids came in below expectations.

Interest from trade buyers and other private equity firms, including Apax [APAX.UL], TPG [TPG.UL] and a consortium of Carlyle [CYL.UL] and Providence Equity waned as suitors worried about refinancing the publisher's heavy debt burden.

Candover and Cinven took advantage of hot debt markets to refinance the business and pay themselves handsome dividends on three occasions in past years.

Even before the sale to EQT, the pair have recovered 1.6 times the value of their investments in Springer, sources said.

Springer could not immediately be reached for comment. ($1=.6779 Euro) ($1=.6121 Pound) (Reporting by Simon Meads and Victoria Howley; Editing by Jon Loades-Carter)