December 19, 2016 / 6:58 AM / a year ago

SCA to acquire Germany's BSN medical for 2.7 bln euros

STOCKHOLM, Dec 19 (Reuters) - 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 Leukoplast.

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)

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