MUNICH, July 14 (Reuters) - German energy firm Techem
will remain in the hands of Swiss investor Partners
Group after its sale to U.S. financial investor TPG
failed earlier this year, a person familiar with the
plans told Reuters on Monday.
Partners Group will transfer its majority stake in the
heating and water metering services company - valued at 6.7
billion euros ($7.81 billion), the same as in the failed TPG
deal - to its own infrastructure fund, the person added.
The TPG fund Rise Climate, Abu Dhabi wealth fund Mubadala
and the Singaporean sovereign wealth fund GIC, which
already had a stake in Techem, will acquire minority shares,
according to the source.
Canadian co-investors La Caisse and Ontario Teachers'
Pension Plan (OTPP) are taking the opportunity to exit.
Those funds were not immediately available for comment.
Partners Group declined to comment on the move first
reported by the Bloomberg news agency.
Techem's sale to TPG and sovereign wealth fund GIC fell
through in May, with the potential buyers withdrawing
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.
($1 = 0.8574 euros)