View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
October 1, 2014

United Biscuits owners “appoint bankers for float”

The private equity owners of United Biscuits, Blackstone Group and PAI partners, have reportedly appointed three banks to oversee a potential float of the McVitie's owner.

The private equity owners of United Biscuits, Blackstone Group and PAI partners, have reportedly appointed three banks to oversee a potential float of the McVitie’s owner.

According to Sky News, Blackstone and PAI have appointed Nomura as the bookrunner on a possible listing, while Canaccord Genuity and Investec were hired as co-lead managers.

A spokesperson for the private-equity firms declined to comment on the report.

However, a source close to the situation suggested that it is “not unusual” for bankers to be appointed at this stage of the proceedings.

Blackstone and PAI have been examining the possibility of either listing United Biscuits or selling the business as a going concern as they look to extract maximum value from their exit of the investment.

just-food understands bids of around GBP2bn (US$2.5bn) have been received for the business. Kellogg, Ulker and Burton’s Biscuit Co. have all been linked to the auction process.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food