Cinven’s Netceed Shelves Sale of Belgian Unit After Low Bids (1)

Cinven-backed Netceed has shelved the sale of a Belgian unit after receiving bids that were below the valuation it sought for the firm, according to people familiar with the matter.

The French telecommunications supplier was working with investment bank Rothschild & Co. and law firm Freshfields LLP to carve out an energy business it had acquired when it bought Amadys two years ago, the people said, asking not to be identified discussing private information.

Netceed received separate bids from private equity firms that offered less than €200 million ($224 million) for the unit, giving the business a valuation of ...