U.S. investment firms KKR and Blackstone bid for Switzerland’s Sportradar

U.S. investment firm KKR and peer Blackstone have been picked for a second round of bidding for Swiss sports data group Sportradar, as investor EQT looks to sell a minority stake that could value the sports data group at more than 2 billion euros ($2.4 billion).

The second-round of bidding was due in early July, and it was unclear whether other bidders, such as UK rival private equity firm Permira, were also still in the running.

In 2018, Sportradar is expected to post earnings before interest, tax, depreciation, and amortization of more than 150 million euros, before costs for sports rights. Including debt, the company may be valued at 13 times that or more in a potential stake sale.

In 2012, EQT invested in Sportradar and owns 37 percent of the company.