December 19, 2016 / 1:19 AM / 3 years ago

Sweden's SCA to scoop up Germany's BSN for 2.7 billion euros: FT

(Reuters) - Sweden’s SCA (SCAb.ST) is nearing a deal to buy German bandage and plaster cast maker BSN Medical for 2.7 billion euros ($2.82 billion), the Financial Times reported, citing sources.

The deal, which includes debt, could be announced as soon as Monday, the Financial Times said, citing sources.

Earlier in December, Reuters reported that buyout group EQT, which owns BSN Medical, was focusing on a stock market listing of BSN Medical after talks with the remaining two bidders for the asset were terminated.

EQT hoped to get a better price from a potential IPO than what it could have received from a sale to Sweden’s consumer goods group SCA.

BSN was bought by EQT in 2012 in a 1.8 billion euro deal and has expanded the business through acquisitions as part of a buy-and-build strategy to boost BSN’s operations in markets including France, Brazil, South Africa and New Zealand.

SCA and BSN Medical could not immediately be reached for comment outside regular business hours.

Reporting by Sangameswaran S in Bengaluru; Editing by Mary Milliken

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