EQT AB (publ) (OM:EQT) is considering a potential sale of Karo Healthcare AB in a deal that could value the Swedish consumer-health business at more than ?2 billion ($2.1 billion), according to people familiar with the matter. The private equity firm is working with Jefferies Financial Group Inc. as it weighs strategic options for the business it acquired in 2019, said the people, asking not to be identified as the matter is private. Karo Healthcare could draw interest from other financial sponsors who are keen to expand in the sector, the people said.

Deliberations are in the early stages and no final agreement on a sale has been reached, while EQT could also decide to retain the business if there are no viable offers, the people said. Representatives for EQT and Jefferies declined to comment.