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Ardian gets bids for French engineering group Fives - sources

Ardian gets bids for French engineering group Fives - sources
From Reuters - December 6, 2017

FRANKFURT, Dec 6 (Reuters) - Buyout group Ardian has received binding bids for its stake in Fives, which may value the French engineering group at about 1.5 billion euros ($1.8 billion), people close to the matter said.

Canadian pension fund Caisse de depot et placement du Qubec and private equity firm TowerBrook have both handed in offers for the minority stake, they said.

The winner of the auction, which is being organised by BNP Paribas, is expected to tie up with Bpifrance or the Peugeot familys investment arm FFP, both of which have offered to act as co-investors.

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