Blackstone (BX) and Austrian billionaire Andreas Kaufmann, owners of Leica Camera, are considering the sale of a controlling stake in the German camera maker, valuing the potential deal at about 1 billion euros ($1.2 billion), Bloomberg said Friday, citing people familiar with the matter.

Blackstone and the Kaufmann family are currently speaking to advisers, with HSG, formerly known as Sequoia Capital China, and Altor Equity Partners among a handful of bidders for the business, the report said.

Following a potential deal, the Kaufmann family could re-invest in the business, but the deliberations are at an early stage and there is no guarantee that a deal will take place, the report said.

Blackstone did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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