Posted Jul 19, 2022, 7:30 AMUpdated on Jul 19, 2022 at 7:49 am
It’s settled. At the controls of the number three French water company, the EQT investment fund wishes to sell 49% of the capital of Saur, according to our information. Exit therefore the diagrams of a total sale or an IPO. “Preparatory documents are starting to circulate and the first offers will be due in September,” said a source, when Rothschild was hired to lead the auction.
The Swedish investor expects an overall valuation of 3.5 to 4 billion euros, from concordant sources, or more than 13 times its anticipated Ebitda for 2022 (270 million euros). A quantum leap from the purchase price of 2018: EQT bought Saur for just over 1.5 billion euros. The group was then emerging, it is true, from a long tumultuous history which saw the banks take control of the group following a major financial restructuring in 2013. When questioned, neither EQT nor Saur commented.