| FRANKFURT, March 15
FRANKFURT, March 15 Private equity firm EQT and
sovereign wealth fund GIC are set to forge ahead in their
efforts to offload Springer Science+Business Media,
seeking buyers while also preparing a flotation as an
alternative, several people close to the process told Reuters.
Sources had told Reuters last year that EQT and GIC were
seeking a buyer who they hoped would pay as much as 4 billion
euros ($5.2 billion) for the German speciality publisher of
scientific journals, but they have so far not made any notable
A person close to the owners said potential bidders would be
sent information packets next week, and two bankers familiar
with the transaction said initial bids were due in late April or
They said likely bidders included private equity firms BC
Partners, Providence, Carlyle and Hellman &
Carlyle had no comment. The others cited as potential
bidders were not immediately available.
German media group Bertelsmann, meanwhile, said it
was not considering buying Springer Science, months after the
Financial Times said Bertelsmann was weighing a bid.
"Business Information is a strategic growth platform. That
is why we are pursuing several investment options," a spokesman
for Bertelsmann said on Friday. "Springer Science is not one of
The person close to the owners said that EQT and GIC have
also started working on a prospectus for an initial public
offering (IPO). According to the bankers, an IPO would be
possible around late June or early July.
Sweden-based EQT declined to comment. GIC, the investment
vehicle of the government of Singapore, was not immediately
available for comment.