Ardian gets bids for French engineering group Fives: Reuters
Buyout group Ardian has received binding bids for its stake in Fives, which may value the French engineering group at about US$1.8 billion, Reuters reported. Canadian pension fund Caisse de dépôt et placement du Québec and private equity firm TowerBrook have both handed in offers for the minority stake, the sources said. The winner of the auction, which is being organised by BNP Paribas, is expected to tie up with Bpifrance or the Peugeot family’s investment arm FFP, both of which have offered to act as co-investors. Fives designs and supplies machines and ready-to-work factories for the metals, automotive, aerospace, logistics and energy industries.
6 December 2017•1 min read
