Siemens seen picking EQT for hearing aids next week

Reuters News
Posted: Oct 31, 2014 5:30 AM

MUNICH/LONDON (Reuters) - Siemens is likely to pick EQT [EQT.UL] next week to buy its hearing aids unit for about 2 billion euros ($2.5 billion), two sources familiar with the matter said.

Danish hearing aid maker GN Store Nord was also in the running.

Private equity firm Permira, which had been interested, is now out of the race, another source close to the matter said.

Siemens' board is expected to make a decision on the matter next Wednesday, all three sources said.

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Siemens and EQT declined to comment.

(Reporting by Jens Hack in Munich, Freya Berry in London and Kathrin Jones in Frankfurt; Writing by Georgina Prodhan; Editing by Ludwig Burger)