FRANKFURT (Thomson Financial) - The owner of Bundesdruckerei, which prints
Germany's euro notes and passports, has decided to hold "concrete" talks with
two foreign bidders in an effort to sell the company, Der Spiegel reported,
citing sources familiar with the matter.
The German government previously said talks to sell Bundesdruckerei have
been called off.
Germany's government sold Bundesdruckerei to private equity group Apax in
2000. It is now owned by a trustee from law firm Clifford Chance.
According to reports, the German government has rejected bids from rival
printer Giesecke & Devrient and certification company TUeV Nord as being too low
and aims to exclude foreign bidders for reasons of national security.
The company's owner has now taken the sales process into its own hands to
push through a divestment, Der Spiegel said.
According to the magazine, Giesecke & Devriet offered about 400 million
euros, while foreign bidders such as U.S.-based 3M are willing to spend about
twice as much.
maria.sheahan@thomsonreuters.com
mas/ro
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