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Germany's Techem still seeking deal after TPG withdraws as buyer, CEO says
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Germany's Techem still seeking deal after TPG withdraws as buyer, CEO says
May 28, 2025 3:32 AM

FRANKFURT, May 28 (Reuters) - German energy firm Techem

continues to work towards a deal after its sale to U.S.

financial investor TPG and sovereign wealth fund GIC

fell through earlier this month, the company's CEO Matthias

Hartmann said late on Tuesday.

The potential buyers withdrew registration of the

6.7-billion-euro ($7.59-billion) deal with the European Union's

antitrust authorities on May 7. The European Commission had

announced an in-depth review of the takeover, as TPG's

concessions were not deemed sufficient.

Hartmann told reporters on Tuesday that efforts to reach a

solution were ongoing.

"All parties are keen to find a solution ... I can't say

what that will look like," he said.

TPG had brought Singapore's sovereign wealth fund GIC on

board as a co-investor for the takeover last October.

Partners Group had also considered an initial public

offering (IPO) as a way to sell its shares in the company last

year.

"Capital markets are always an option," Hartmann said,

adding that would be a decision for its shareholder to take.

Hartmann declined to comment on whether Techem will continue

working with the same advisers or whether it will pay a

so-called "break-up fee" which is incurred when deals fall

apart.

As a result of TPG's withdrawal, Techem will repay in full

provisional senior secured bonds amounting to 750 million euros

that were issued in connection with the planned handover, the

company said in a statement.

($1 = 0.8827 euros)

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