Oberthur having trouble with smart card unit auction
20 July, 2011
category: Contactless, Government
Oberthur may have problems selling its smart card unit, which it put up for auction this year.
Dow Jones Newswires reports that with the deadline for second round bids coming up at the end of the July, current bidders are reconsidering their initial offers.
Three offers came in on the first round of bidding. Since then, Bain Capital has dropped out of the race. PAI Partners is still considering its place in the bidding process. Advent International hasn’t given indication on whether or not it will stay in the auction.
Financial advisory firm Rothschild is managing the auction.
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