FRANKFURT, March 2 (Reuters) - Swiss investor Martin Ebneris in talks to buy Swiss-German United Grinding, as otherbidders have dropped out of the race for the machine tool maker,two people close to the matter said.
China Jianyin Investment (JIC), which had been keen to buyBern-based UGG, is no longer in the running, one of them said.
Switzerland's Oerlikon OERL.S has also dropped out of theauction for the maker of tools that are used to grind surfacesand small workpieces, the sources said.
UGG was expected to fetch up to 600 million euros ($739million), sources close to the matter previously said.
The company, owned by Germany's industrial holding KoerberAG, is expected to post earnings before interest, tax,depreciation and amortization of 72 million euros this year. Oerlikon and Koerber were not immediately available forcomment, while Martin Ebner declined to comment.
($1 = 0.8118 euros)