Permira Advisers LLP may call off the sale of Iglo Foods Group Ltd. and is exploring ways to pay itself a dividend from its stake in the fish-finger maker after bids fell short of the buyout firm’s target, people with knowledge of the talks said.
Blackstone Group LP (BX) and BC Partners Ltd. submitted an offer last week that values Iglo at about EUR 2.5 billion (USD 3.1 billion), while Permira expected at least 2.8 billion euros, said the people, who asked not to be identified because the process is private. Credit Suisse Group AG (CSGN), which is advising Permira on Iglo, is working on debt financing that would be used to pay Permira a dividend, allowing it to get some cash from the investment, they said.
