US private equity group Warburg Pincus LLC is considering a sale of Bausch & Lomb Inc, looking to collect in excess of USD10bn (EUR7.7bn) for the US maker of contact lenses and assorted eye care products, Reuters reported citing a source in the know.
Warburg Pincus has hired investment banking giant Goldman Sachs Group Inc (NYSE:GS) and asked it to sound out interest among potential buyers, the news agency said. Among the parties Goldman has been told to approach are some leading healthcare companies. However, there is also the possibility that Warburg Pincus will opt to list the business instead, the person added.
Bausch & Lomb has been in business since 1853 and delivers its products to customers in over 100 countries. It has been under the ownership of Warburg Pincus since 2007, when the private equity group took it private in a USD4.5bn deal.
Reuters could not get Warburg Pincus and Goldman representatives to comment. Adam Grossberg, a spokesman for Bausch & Lomb, also steered clear of the topic, saying only that the company was regularly approached by interested parties. He added that Bausch & Lomb remained keen on returning within the ranks of listed companies, reiterating comments made before Reuters in July by chief executive Brent Saunders.