HSG Reportedly in Advanced Talks to Acquire Leica Camera

Bloomberg reports HongShan Capital Group (HSG, formerly Sequoia Capital China) is in advanced talks to buy Blackstone's roughly 45% stake in Leica Camera AG, per people familiar with the matter. HSG may also seek to acquire the ~55% held by the Kaufmann family, which would give it full control of the company at a reported valuation of around €1 billion. A potential IPO is on the table if a full acquisition goes through. No parties have commented, and no deal is confirmed.