Permira lines up payout with Iglo debt deal

By

SeafoodSource staff

Published on
July 3, 2012

Private equity firm Permira is gearing up to refinance the debt in frozen foods group Iglo and pay itself a hefty dividend after rejecting an EUR 2.5 billion (USD 3.17 billion) bid for the company, banking sources said on Monday.

Permira has lined up a refinancing with Credit Suisse and Deutsche Bank, bankers said, after snubbing a joint offer for the company from Blackstone and BC Partners — the last remaining bidders in a sales process last week — ending what would have been one of the largest leveraged buyouts of the year.

Permira was hoping the company would fetch around EUR 2.8 billion.

Click here to read the full story from Reuters >

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