3i puts Ambea on the block with $1.4B price tag

3i Group plc has put portfolio company Ambea AB of Stockholm on the auction block and chosen three other private equity firms as the top bidders.

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Bloomberg is reporting that:

Merrill Lynch & Co.'s private equity unit, French buyout firm PAI Partners and U.K.-based Doughty Hanson & Co. are competing to buy Nordic health-care company Ambea for as much as 900 million euros ($1.4 billion), four people with knowledge of the plans said.

Ambea operates hospitals and outpatient clinics, and it provides disabled and elderly care. The company is 75% owned by 3i, with the Government of Singapore Investment Corp. and management holding the remainder. The auction is being run by Morgan Stanley with second-round offers due in late May. - George White

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