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German billionaire readies sale of patch maker LTS - sources
April 6, 2017 / 1:40 PM / 8 months ago

German billionaire readies sale of patch maker LTS - sources

FRANKFURT, April 6 (Reuters) - German billionaire Dietmar Hopp is preparing to put medical skin patch maker LTS Lohmann on the block as he reshuffles his portfolio, three people close to the matter said.

Hopp’s investment firm Dievini has started reaching out to potential buyers to gauge their interest in an acquisition, they said.

Hopp, the co-founder of software group SAP, shared ownership of LTS with Switzerland’s Novartis and German investment firm BWK.

But he bought out the fellow investors in a deal valuing the company at 1.2 billion euros ($1.3 billion) in 2014, after failing to find a third-party buyer for the business.

Officials at Dievini were not immediately available for comment. ($1 = 0.9384 euros) (Reporting by Arno Schuetze, Ludwig Burger and Carl O‘Donnell; Editing by Maria Sheahan)

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