FRANCE: Lion calls off talks to sell Findus France to Permira
By Stuart Todd | 14 December 2011
Private-equity firm Lion Capital has suspended talks to sell its Findus unit in France to a potential buyer, thought to be rival buy-out house and Iglo Group owner Permira.
A union official at Findus France's plant in Boulogne-sur-Mer said staff representatives had been informed by management last week that Lion Capital had suspended sale talks.
"Management did not give any reason for the suspension of the talks and we have requested that more information be disclosed but have yet to receive a reply," the official said today (14 December).
Reports in the French press say the sticking point in negotiations with Permira is the sale price.
No-one at Lion Capital was available for comment when contacted by just-food.
In October, it emerged that Lion Capital was in talks to sell the Nordic operations of Findus Group.
Permira acquired the rights to the Findus brand in Italy last year from Unilever.
Sectors: Frozen, Mergers & acquisitions
Companies: Iglo Group, Findus Group, Unilever
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