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EQT and GIC sold Springer Science + Business Media to Private Equity-Investor Cinven (Vol: €3,3bn)
Private equity investors EQT, via its fund EQT V, the owners of Springer Science + Business Media and GIC, the private equity arm of Singapore Investment Corporation Pte Ltd, have agreed to sell the publisher to private equity firm BC Partners.
With a transaction volume of €3.3bn, the deal is one of the largest private equity deals since the financial crisis. The transaction is subject to the customary regulatory approvals and is expected to close in August 2013.
P+P partner Dr. Benedikt Hohaus and counsel Dr. Barbara Koch-Schulte have already advised EQT with regard to the management participation model during the acquisition of Springer, as well as in the current sale to BC Partners.
