Ardian SAS is shelving the planned sale of a majority stake in Italian health-care software provider Dedalus, people with knowledge of the matter said.
Ardian was seeking to value the business at more than 3 billion euros ($3 billion), Bloomberg News has reported. The deal joins a number of transactions that have recently been put on ice as rocky credit markets make it more challenging for private equity firms to borrow money cheaply.
Investment banks are nervous to add more underwritten debt to the $80 billion they already hold on their balance sheet, while private lenders are pulling back on risk by cutting how much debt they are offering in a single deal.
Read more: BNN Bloomberg
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