Nov. 26 (Bloomberg) -- Claudio Albrecht, the former chairman of Ratiopharm GmbH, has teamed up with EQT Partners AB, the private equity arm of Sweden’s Wallenberg family, to bid for the German drug company in an auction expected to value Ratiopharm at about 2 billion euros ($3 billion), the Financial Times reported, without attribution.

Private equity bidders are expected to be offered vendor financing by Commerzbank AG, the newspaper said.

Bidders have been asked to submit non-binding offers by Dec. 3, the FT said, citing people close to the auction, and a fourth round is expected to precede the sale’s completion by the first quarter of next year, the newspaper said.

To contact the reporter on this story: Morwenna Coniam in London at mconiam@bloomberg.net.

Last Updated: November 25, 2009 19:11 EST