Lex: EQT / Springer

EQT, the private equity arm of Sweden's Wallenberg family, is on Thursday expected to announce the E2.3bn takeover of Springer Science and Business Media. The deal ends a tortuous sales process by Cinven and Candover, its two UK-based private equity owners, which will receive only about E100m for their equity in the German publishing group. It is the latest sign that Europe's private equity industry is slowly recovering from the credit crisis. Luke Templeman analyses the deal.