(Reuters) -British private equity firm 3i Group is considering exit options, including a sale of French IT maintenance provider Evernex, Bloomberg News reported on Wednesday, citing people familiar
3i Group Considers Selling Evernex, a French IT Maintenance Firm
3i Group's Potential Sale of Evernex
(Reuters) -British private equity firm 3i Group is considering exit options, including a sale of French IT maintenance provider Evernex, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Valuation and Sale Process
The potential sale of Evernex, which is being arranged with Bank of America, could be valued at 1.2 billion euros to 1.5 billion euros ($1.41 billion-$1.76 billion), the report said.
Background on Evernex
3i declined to comment on the report, while Evernex and Bank of America did not immediately respond to Reuters requests for comment.
Recent Transactions by 3i Group
Evernex, which supports IT system maintenance for companies across more than 165 countries and serves over 15,000 clients, was acquired by 3i in 2019 from Carlyle Group for an undisclosed sum.
The British investment firm also sold premium pet food firm MPM Products in June this year, generating proceeds of 400 million pounds.
($1 = 0.8529 euros)
(Reporting by Yamini Kalia and Megha Kumari in Bengaluru; Editing by Alan Barona)
