EQT Said to Near €2 Billion Deal to Buy Desotec from Blackstone

EQT AB is nearing a deal to acquire a majority stake in European environmental service company Desotec from Blackstone Inc., four years after it sold the business to the US private equity firm, according to people familiar with the matter.

Stockholm-listed EQT and Blackstone are finalizing details of an agreement, which could be announced as soon as Friday, the people said. The transaction is likely to value Roeselare, Belgium-based Desotec at about €2 billion ($2.3 billion) including debt, the people said, asking not to be identified discussing confidential information. Blackstone will retain a minority stake following the transaction, they added.