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Swiss food giant Nestle SA is in talks to buy the Nordic operations of U.K.-based frozen food maker Findus from private-equity company Lion Capital, the Financial Times reported Monday.

Lion Capital and its financial advisers Rothschild are also speaking to Norwegian consumer goods group Orkla ASA and seafood exporter Leroy Group ASA, the paper said, citing two people close to the situation.

The deal could be worth 700 million euros-800 million euros, and could be used by Lion to pay down the debts of the rest of Findus, which Lion bought for GBP 1.1 billion three years ago.

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