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| UK's United Biscuits faces break-up to aid disposal - paper |
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http://www.sbdailynews.com
2011-08-16 |
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Blackstone, PAI eye end-2011 disposal talks -Sunday Times
* McVities biscuit unit may be split from KP crisps arm -Sunday Times
LONDON Aug 14 (Reuters) - United Biscuits, Britain's biggest biscuit-maker, could be broken up as its private equity owners seek to offload the business, the Sunday Times reported.
Blackstone and PAI Partners plan to begin talks about selling UB, maker of Hula Hoops and Jaffa Cakes, at the end of the year, and could split its McVities biscuit unit from the KP crisps division to facilitate a deal, the paper said.
Blackstone was not immediately available to comment, and PAI Partners could not be reached.
The buyout firms hoped to raise 2 billion pounds ($3.25 billion) from a sale of UB last year, but interest from potential suitors including China's Bright Foods, Kelloggs, Kraft and Campbell Soup Co failed to deliver a deal. |
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