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PE firms eyeing stake in Lufthansa maintenance unit

A number of private equity firms including Advent International and CVC Capital Partners are weighing up bids to acquire a minority stake in Deutsche Lufthansa AG’s aircraft maintenance and repair unit, according to a report by Bloomberg.

Unnamed Bloomberg sources say that Lufthansa’s Technik business, which could be valued at more than €6 billion in any deal, has also attracted initial interest from Bain Capital and Blackstone Inc.

Deliberations are said to be ongoing and there is no certainty any of the private equity firms will proceed with offers, although the sources say Lufthansa is expecting to receive non-binding bids for Technik in April.

Revenue at Technik, which maintains, repairs, modifies and overhauls civil aircraft, rose 39% last year to €5.6 billion as global travel rebounded after the Covid-19 crisis.

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