STOCKHOLM Dec 19 Sweden's SCA said on
Monday it had signed a deal with private equity firm EQT to buy
German wound care products maker BSN medical for 2.74 billion
euros ($2.87 bln).
According to recent comments by sources, EQT had also
considered a stock market listing for BSN, whose brands include
The deal with SCA values BSN at close to 12 times expected
2017 earnings before interest, tax, depreciation and
amortisation (EBITDA) of 235 million euros. That compares with a
valuation of recently listed peer Convatec of about 14
times expected 2017 core earnings.
The Swedish hygiene products and forestry group said it
expected annual synergies of at least 30 million euros, with
full effect three years after closing. It added closing was
expected during the second quarter of 2017.
($1 = 0.9555 euros)
(Reporting by Helena Soderpalm, additional reporting by Maria
Sheahan in Frankfurt; Editing by Daniel Dickson)