Buyout firms Partners Group Holding AG and CVC Capital Partners have teamed up against chemicals company Celanese Corp. in the bidding for German technical-ceramics maker CeramTec GmbH, according to people familiar with the matter.

Owner BC Partners has called for next-round bids around July 19 and is seeking a valuation of at least 4 billion euros ($4.7 billion), the people said, asking not to be identified because discussions are private.

Other investment firms and companies have also looked at the asset, the people said. Bloomberg News reported earlier this month that BC Partners started exploring options, including a sale or initial public offering, in a deal that could value the business at 3.5 billion euros or more.

Read more/Source: Yahoo Finance