Braun attracts takeover interest from buyout groups
Braun, Procter & Gamble’s German electricals business, has attracted takeover interest from private equity groups, The Sunday Times reported. The newspaper cited City sources who said bankers were working on bid approaches for Braun.
The item noted speculation that Procter & Gamble, a listed Cincinatti, Ohio-based consumer goods company, will begin a sale process for Braun within months.
It is expected that large European buyout groups will be interested in Braun, the report said. Sources cited by the newspaper named BC Partners, Cinven and CVC Capital Partners as possible bidders. Several private equity groups are already doing preliminary work on potential offers for Braun, the sources added.
The item estimated that Braun could sell for between EUR 750m (USD 931m) and EUR 1bn.
Procter & Gamble could not be contacted for comment, the report said.
Sunday Times