Permira puts a €2.8bn price tag on Iglo
Jim Armitage is the City editor of The Independent and London Evening Standard group of newspapers. He has been a reporter and editor for more than 20 years and was recently shortlisted for the Press Gazette financial journalist of the year and The Society of Editors financial journalist of the year awards. He contributes news, investigative reports and comment to the Independent titles plus a daily column in the Evening Standard.
Thursday 21 June 2012
Permira, the owner of the frozen foods giant Iglo, is looking for a price of €2.8bn (£2.2bn) from bidders for the business.
The private-equity groups BC Partners and Blackstone have teamed up to put in a joint bid for the maker of Birds Eye brands.
Blackstone owns Pinnacle, a US foods group which owns the rights to the Birds Eye brand in the US.
It had previously been thought that Blackstone was competing with BC on the deal, but the two appear to have joined forces for tonight's auction deadline.
Rival private equity firm PAI Partners pulled out of the auction process after failing to find a partner to share the cost.
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