The Financial Times/Peter Smith today has a somehow surpringing article: "Getty and Corbis to battle over Zefa library".
The article reports that 3i, still the biggest (and for some still the best) VC company in Europe, might have plans to sell the german-based photo agency Zefa:
Zefa, owned by 3i, the private equity group, and its management, led by Erwin Fey, this month selected LongAcre, the corporate finance boutique, to undertake a strategic review.
3i acquired Zefa in 1998 for about €6m. Since then, its group's sales have quadrupled to about €35m. Based on a multiple of two-and-a-half times sales, Zefa is worth close to €90m ($111m).
All options are being considered, including an outright sale, a recapitalisation, and a partnership with either a trade or financial party.
Related: "Fading Distinctions And One Image Like The Other: Digital Vision Links With Zefa"
