LONDON, June 23 (Reuters) - European private equity firms Montagu and Astorg’s acquisition of French medical diagnostics company Sebia will be backed with up to 800 million euros ($1.09 billion) of debt financing, banking sources said on Monday.
Goldman Sachs and Nomura, which acted as exclusive advisers to Astorg and Montagu in the M&A process, are leading the debt financing that is due to be shown to other lenders and launched for syndication around July 7. [ID: nRLP49922a]
Montagu and Astorg were not immediately available to comment.
The debt financing includes around 500-600 million euros of loans split between a term loan B and a revolving credit facility. The loans will be mainly denominated in euros and will have a smaller dollar portion, the sources said.
There is also around 200 million euros of second lien loans that have been provided by a Goldman Sachs fund, the banking sources said.
The deal marks the second time Montagu has invested in Sebia, after it sold the company to Cinven in 2010 for around 800 million euros. Cinven said the latest sale would generate a return of 2.4 times its original investment.
Sebia, which sells its products to over 110 countries worldwide, has increased its presence in the United States since Cinven took over, with the region now accounting for 21 percent of total revenue. ($1 = 0.7366 Euros) (Editing by Christopher Mangham)