Buyout group EQT is launching the sale of German utility services provider SAG, which may fetch roughly 1 billion euros ($1.1 billion), three people familiar with the matter said.
The private equity investor has asked Deutsche Bank to explore options for the business, which posted earnings before interest, taxes, depreciation, and amortization (EBITDA) of about 90 million euros in the last 12 months and may be valued at 10 to 12 times that, they added.
EQT and Deutsche Bank declined to comment.
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