Black & Decker, Unitas Eye Bid For CVC's Singapore Asset: Sources - Reuters

05/30/2012| 09:12pm US/Eastern

Recommend:

0

Stanley Black & Decker Inc. (>> Stanley Black & Decker, Inc.) and Pan-Asia buyout fund Unitas Capital are among the potential bidders for CVC Capital Partners Ltd.'s Singapore-based fasteners manufacturing unit Infastech, the Reuters news agency said Wednesday on its website, citing unnamed sources with direct knowledge of the matter.

CVC Capital Partners and Standard Chartered PLC's (SNTDF) private equity business have hired Bank of America Corp. (>> Bank of America Corp) and Goldman Sachs (GS) to handle the sale, the sources said in the report. The business was bought in 2010 for about $350 million-$400 million.

With first-round bids due Wednesday, it was unclear whether any of the suitors would eventually place bids, the report said.

Bank of America, Goldman, Standard Chartered and Unitas declined to comment, CVC couldn't be reached for immediate comment, and Black & Decker didn't reply to an email seeking a response, the report said.

Infastech spokesman Peter Marmach declined to comment to Dow Jones Newswires.

Full Story: http://www.reuters.com/article/2012/05/30/infastech-blackdecker-idUSL4E8GU14620120530

0