Siemens Pushes Sale of Hearing Aids as Bidders Line Up


Jan. 5 (Bloomberg) -- Siemens AG has narrowed the number of potential bidders for its hearing-aid subsidiary to six, Dow Jones Newswire reported, citing unidentified people familiar with the talks.

Five of the bidders are private-equity firms, including Permira Advisers LLP, Cinven Ltd, and Bain Capital LLC, according to the report. Hellman and Friedman LLC and KKR & Co LP. have also teamed up to bid for the subsidiary, Dow Jones said. One unidentified strategic buyer is among the bidders, according to the report.

Munich-based Siemens may decide by February on a buyer for the unit, according to Dow Jones. An investor would pay 12 to 13 times earnings before interest, tax, depreciation and amortization, which stood at 170 million euros ($245 million) last year, according to Dow Jones.

Joern Roggenbuck, a spokesman for Siemens, said the company doesn’t comment on market rumors.

Last Updated: January 5, 2010 11:13 EST