Is another German firm about to be acquired by a Chinese state-owned firm? According to a Bloomberg report, HongShan Capital Group (HSG), a private equity firm, is currently in talks to buy Blackstone's 45% stake in Leica Camera AG.
Sources also reported that HSG is also considering buying the remaining 55% of the shares held by the Kaufmann family to become the sole owner of Leica Camera AG. Current discussions value Leica at around €1 billion. If HSG succeeds in taking over the entire company, they may consider offering an IPO for Leica in the future.
Andreas Kaufmann bought a 95% stake in Leica for $85 million in 2004 before selling his 45% stake to Blackstone in 2011 for $179 million. At that time, this famous camera company was worth around $407 million.
If Leica Camera AG is acquired by HSG, it would become the second leading camera company after Hasselblad, which was sold to a Chinese firm. DJI is believed to be the largest shareholder of Hasselblad (based in Sweden) since 2017, with its technology used in various drone and camera equipment.
