United Biscuits
Blackstone, PAI eye sale of United Biscuits
Reuters reports that private equity firms Blackstone Group LP (BX.N) and PAI Partners are considering selling Britain's United Biscuits for more than 2 billion pounds ($3.06 billion). Reuters refers to a person familiar with the matter.
Blackstone and PAI Partners reportedly have spoken to banks but have yet to pick advisers for a possible sale, which would probably begin after the European summer holidays and wrap up early in 2011.
United Biscuits reported a 13.7 percent rise in earnings before interest, tax, depreciation and amortisation (EBITDA) last year to 223.4 million pounds, on revenues up 5 percent at 1.26 billion.
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