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Permira eyes German financial services

Private equity firm Permira is eyeing acquisitions in the financial sector, the group’s head of German operations, Joerg Rockenhaeuser told Handelsblatt newspaper. Permira is however not interested in IKB Deutsche Industriebank AG, which is currently up for sale, the newspaper said.

“In principle many things are conceivable” including banks, asset-managers or insurers, Rockenhaeuser said, adding that Permira has been looking into the sector for a while and has now decided to invest more strongly in it.

“There is a big demand for consolidation in the sector,” Rockenhaeuser added. He explained that Permira is not generally opposed to taking minority stakes in companies. “But it is important that we win significant influence on the operational decisions.”