Germany 's Germany has withdrawn from a consortium with US private equity firm Bain Capital Private Equity and Dutch fund PGGM , that was bidding for Hal Investments and Advent International specialty chemical business, according to unnamed sources. The business is estimated to be worth €9bn ($ 11.1bn ) and accounts for over 8.5 of Akzo 's sales and earnings. Akzo is seeking a multiple of over 8.5 times its 2018 EBITDA. Wolfgang Rattay U.S. Other bidders are said to include private equity firm Carlyle Group , Netherlands ' Akzo , which has teamed up with Bain Capital Private Equity .
Germany 's Germany has withdrawn from a consortium with US private equity firm Bain Capital Private Equity and Dutch fund PGGM , that was bidding for Hal Investments and Advent International specialty chemical business, according to unnamed sources. The business is estimated to be worth €9bn ($ 11.1bn ) and accounts for over 8.5 of Akzo 's sales and earnings. Akzo is seeking a multiple of over 8.5 times its 2018 EBITDA. Other bidders are said to include private equity firm Carlyle Group , Netherlands ' Akzo , which has teamed up with Bain Capital Private Equity .