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Gores eyeing Agfa partnership, purchase - magazine

Wed May 7, 2008 8:24pm IST
 
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BRUSSELS, May 7 (Reuters ) - U.S. private equity group Gores is interested in Agfa-Gevaert (AGFB.BR: Quote, Profile, Research) and in particular the Belgian imaging technology group's healthcare division, according to an interview in Belgian magazine Trends.

"We find Agfa an interesting company with some great assets, and we are ready to speak about a partnership or a purchase," Ashley Abdo, Gores' executive responsible for mergers and takeovers in Europe, said on the magazine's website.

Gores has had an eye on Agfa for years, Abdo said. He said the most interesting division was healthcare, which sells film such as for X-rays and increasingly imaging and IT systems to hospitals and clinics.

"Gores knows a lot about healthcare. We own 50 medical imaging centres in the United States, and a few Gores people, myself included, have a background in healthcare," said Abdo, who is CEO of Belgian IT services company REAL, which is due to merge with sector peer Dolmen DOLM.BR.

"We naturally have a stronger affinity with Agfa Healthcare, but we are open to discussions on other activities."

Agfa-Gevaert Chief Executive Jo Cornu told Trends that Gores' interest was positive.

"That is an investor that has the correct profile," he said.

Agfa has hired investment bank Lazard to advise it on its strategic options.

It has said it needs partners or the partial or full sale of a division to cover large pension liabilities, notably in Germany. (Writing by Philip Blenkinsop, editing by Will Waterman)

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