CVC Leads Evonik Race

FRANKFURT, June 2 (Reuters) – Private equity firm CVC Capital Partners [CVC.UL] has the best chances to buy a stake of around 25 percent in German conglomerate Evonik [RUHR.UL], with a decision possible this week, sources familiar with the situation said on Monday.

CVC's current offer is “significantly” above those of rival bidders Bain Capital, Blackstone Group (BX.N: Quote, Profile, Research) and Kohlberg Kravis Roberts & Co [KKR.UL], one of the sources said.

The state-controlled RAG foundation, which is selling the stake, and CVC declined comment, with a spokesman for RAG only saying that the sale was proceeding according to plan. (Reporting by Matthias Inverardi)