LONDON Jan 20 Private equity firm EQT has
pulled the sale of German academic publisher Springer
Science+Business Media because it believes it can achieve a
better price later in the year, the Financial Times reported on
its website on Sunday.
Sweden's EQT, which teamed up with GIC, the
investment vehicle of the government of Singapore, to buy
Springer in 2009 was aiming to get up to 4 billion euros ($5.32
billion) for the publisher.
The owners started to sound out potential buyers for the
business in November last year, sources said at the time, while
they also pursued the option of an IPO in April 2013.
The FT, citing people familiar with the situation, said EQT
had decided to delay the sale until Springer had delivered on
targets and had better visibility on 2014, adding that the sale
could be revived in the second half of the year.
Investors including Providence and Carlyle and German
media group Bertelsmann had expressed interest in the
company, it said.
EQT was not immediately available for comment.