The private equity firms Candover (CDI.L) and Cinven [CINV.UL], the owners of German academic publisher Springer Science and Business Media, are considering a full sale of the company, Chief Executive Derk Hannk said on Wednesday.
"For a while we were considered underleveraged, now we are considered overleveraged ... a straight sale is the preferred option," Hannk told Reuters on the sidelines of the Frankfurt Book Fair on Wednesday.
"We are owned by private equity and they have had a very good run for their investment for five, six years," he said, adding it may be time for new equity.
Wednesday, October 14, 2009
Take all of Springer
Springer CEO Derk Hannk is quoted by Reuters suggesting the entire company is in play (Reuters)