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EQT has no plans for quick exit from Ottobock, Sivantos
September 7, 2017 / 4:47 PM / 2 months ago

EQT has no plans for quick exit from Ottobock, Sivantos

MUNICH, Sept 7 (Reuters) - Private equity firm EQT has no plans for a quick exit from either prosthetics maker Ottobock or hearing aids manufacturer Sivantos Group, EQT partner Marcus Brennecke said.

* “We have invested (in Sivantos for) two and a half years. Normally we hold investments for four to five years ... We have no plans to exit before the end of 2018,” Brennecke told a news briefing on Thursday.

* However, he said EQT would look at any good offers that came before then.

* Commenting on Ottobock, he said: “I see that in three years, at the earliest. We have to work with the majority owners and management for three, four, five years first.”

* Brennecke also said that it was too soon to divest Apleona, the former real estate services business EQT bought from Bilfinger for 1.2 billion euros ($1.4 bln) in 2016. ($1 = 0.8326 euros) (Reporting by Joern Poltz; Writing by Maria Sheahan; Editing by Susan Fenton)

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