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July 21, 2010

UK: United Biscuits owners “ponder sale”

UK-based snacks giant United Biscuits may be put up for sale, reports in the country have said.

UK-based snacks giant United Biscuits may be put up for sale, reports in the country have said.

The food group, which is owned by the private equity firms Blackstone Group LP and PAI Partners, could fetch over GBP2bn (US$3.04bn), reports claim.

The private-equity groups are reported to be talking to investment banks about auctioning the business they bought for GBP1.6bn in 2006.

Sky News reported that a number of options were being considered. As well as an outright sale, the company’s snacks division and its biscuits unit could be sold to different buyers.

Meanwhile, a stock market listing for the McVitie’s owner is a less likely, although possible, alternative.

Reports said that UB’s owners had not yet picked advisers for the sale and that the process would probably not begin until after the European summer holidays and would be wrapped up early in 2011.

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