Blackstone, Lion Capital to bid for GSK's Lucozade, Ribena: report
(Reuters) - Private equity firms Blackstone (BX.N) and Lion Capital have teamed up to make a formal bid worth more than a billion pounds for Lucozade and Ribena, the two soft drink brands put up for sale by drugmaker GlaxoSmithKline (GSK.L), Sky News reported on Sunday.
GSK has been increasingly focusing its consumer health operations on emerging markets and put Lucozade and Ribena -- brands that are big sellers in Britain but lack global reach -- up for sale as they no longer fit in with the company's portfolio.
Last month, GSK said it had appointed JPMorgan and Greenhill to advise it on the sale.
Blackstone and Lion Capital have appointed bankers at Rothschild to advise them on their bid, Sky News reported.
Both Blackstone and Lion Capital could not be reached for comment outside regular business hours. (Reporting by Abhishek Takle in Bangalore; Editing by Marguerita Choy)
MOSCOW - Russian authorities are not planning to close the McDonald's chain in the country, Deputy Prime Minister Arkady Dvorkovich was quoted saying on Saturday, after inspectors visited a number of restaurants run by the fast-food company.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.