FRANKFURT, Jan 28 (Reuters) - Several Chinese companies are fighting over German waste management company Energy from Waste (EEW) in a deal potentially worth about 1.8 billion euros ($1.96 billion), several people familiar with the matter said.
Among those groups, handing in final bids on Monday will be Chinese groups that have entered or re-entered the race in its final stage, they said.
Beijing Enterprise 0392.HK , China Tianying 000035.SZ a consortium comprising Beijing Capital 600008.SS and German utility Steag as well as Finnish utility Fortum FUM1V.HE are expected to hand in offers.
Beijing Capital Group had initially dropped out of the race alongside China Everbright 0257.HK as their offers came in below the cut-off price of 1.7 billion euros, while Tianying had not been on the original shortlist. as well as the bidders declined to comment or were not immediately available for comment outside regular office hours.
For 2015, EEW is expected to post core earnings, or earnings before interest, taxes, depreciation, and amortisation, of 190 million euros.
If the final enterprise value - including stakes of minority shareholders - remains at more than 1.8 billion euros that would be roughly in line with the 9 times core earnings that China's Cheung Kong Infrastructure 1038.HK paid for AVR when it bought the Dutch energy-from-waste company in 2013.
EEW's private equity owner EQT as well as the bidders declined to comment, except for Beijing Enterprises and Beijing Capital which were not immediately available for comment. ($1 = 0.9166 euros)