03:19 PM EST, 03/08/2024 (MT Newswires) -- TPG (TPG) is the last remaining main bidder vying for German metering company Techem, following KKR & Co. ( KKR ) bowed out from the process, Bloomberg reported Friday, citing people with knowledge of the matter.

Techem's suitors are discussing a valuation of 6 billion euros ($6.56 billion) for the company, below the 8 billion euros initially sought by Partners Group Holding, an owner in the business.

Techem's owners will take at least several weeks before reaching a deal with anyone, though could opt for an IPO of the business instead, the report said.

TPG, KKR and Partners Group Holding did not immediately respond to requests for comment by MT Newswires.

Price: 45.34, Change: -0.22, Percent Change: -0.48