Kuoni's suitors include EQT, Cinven; Partners Group, Carlyle and HNA Group/Baring Private Equity Asia tipped as possible bidders
The private equity firms Cinven and EQT are among the bidders for the Swiss travel company Kuoni Group [SWX: KUNN], the Financial Times reported citing sources close to the situation for the claim.
Kuoni issued a statement yesterday (5 January) saying it had been approached by third parties regarding a potential takeover bid. Talks are at an early stage and there is no certainty of a deal, Kuoni said.
One analyst cited by the report estimated that an offer could be pitched at slightly more than Kuoni’s market capitalisation, based on 12 times forecast earnings for next year, but added that a substantially higher offer would be surprising.
A report in The Times listed BC Partners, Carlyle Group. EQT, Partners Group, EQT and Permira as some of the buyout groups tipped as potential bidders for Kuoni. BC Partners owns Mergermarket Group, publisher of this news service.
An article in Swiss daily Tagesanzeiger (published today on page 8) named another possible buyer as a consortium of the Chinese travel group HNA Group and Baring Private Equity Asia.
Kuoni’s share price closed CHF 4.25 (EUR 3.91) up at CHF 293.25 in Zurich yesterday, valuing the company at CHF 1.17bn.