Unilever mulling Italian food business sale -FT

LONDON Dec 3 (Reuters) - Consumer goods giant Unilever (ULVR.L)is considering the sale of its Italian frozen food business, Findus Italy, for up to 800 million euros ($1.21 billion), The Financial Times reported on Thursday.

Frozen foods group Birdseye Iglo, owned by UK private equity group Permira, is considered to be one of the favorites to buy the business, with Findus Group, owned by Lion Capital, also interested, said the paper. Unilever, Permira and Lion Capital could not be reached immediately for comment.

Citing a source familiar with the company, the FT said Findus Italy was likely to be valued at eight to 10 times its annual earnings before interest, tax, depreciation and amortisation of 65 million euros to 70 million euros.

Goldman Sachs has been working with Unilever on the sale, the paper reported. A Goldman spokeswoman did not immediately return a call seeking comment. (Reporting by William James; Editing by Carol Bishopric) ((william.james@thomsonreuters.com; +44 207 542 9785) ($1=.6635 Euro)