Igloo bid to be largest buyout

Igloo bid to be largest buyout

LONDON - Reuters
Blackstone and BC Partners are jointly bidding for frozen foods group Igloo, hoping to divide the spoils rather than fight it out in what could be Europe’s largest buyout of the year, a person familiar with situation said yesterday.

The two private equity groups were the last in the frame for the Birds Eye Fish Fingers maker, which seller Permira hopes will fetch 2.8 billion euros ($3.5 billion) when binding bids are tabled today.

Rival PAI Partners pulled out of the process last month, unable to meet the asking price or find a partner for a joint bid, sources familiar with the situation have said previously.

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