German banks launched the sale of jointly held paymentsgroup Concardis, as the group seeks a partner for investments in newtechnologies, Reuters reported Oct. 6, citing "people close to the matter."
Deutsche BankAG, CommerzbankAG and UniCreditSpA are among the shareholders who want to sell their stakes, whilesome other lenders may remain partially invested, one of the sources toldReuters.
Private equity groups Advent, Bain, Permira and are expectedto bid for the payments group, the sources said. According to the report,France-based Ingenico, Atos, U.S.-based First Data Corp. or Germany's B+S may also be interestedin Concardis.
A number of interested buyout groups as well as otherpayment systems suppliers have reportedly approached Concardis, which ispreparing data for potential bidders. The first round of offers is expected byearly November.
Concardis offers card payment terminals as well as paymenttechnology for e-commerce groups, according to the report. Savings banks andprivately-held banks in Germany each own 39% of Concardis, with an additional20% held by cooperative banks.