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Report: PE giants KKR, Blackstone target EQT's stake in Sportradar


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Report: PE giants KKR, Blackstone target EQT's stake in Sportradar

Private equity giants KKR & Co. LP and Blackstone Group LP are looking to acquire EQT's minority stake in Swiss sports data group Sportradar, Reuters reported, citing unnamed sources.

The Swedish private equity group reportedly tapped Evercore as its adviser on the proposed stake sale, which could value Sportradar at more than €2 billion.

KKR and Blackstone were selected for a second round of bidding, and it could not be determined whether private equity firm Permira is still a contender, the unnamed sources told the news outlet.

Sportradar has 1,900 employees across 24 countries and monitors 400,000 live sports events in 40 sports each year. Its customer base includes media organizations such as Associated Press Inc., NBC Sports Network, Google Inc. and Facebook Inc., as well as betting companies such as William Hill Ltd., Paddy Power and Ladbrokes.

Neither of the named parties commented on the matter, according to the report.