AXA Private Equity considers selling ingredient maker Diana in possible 1 billion euro deal: FT
(Reuters) - AXA Private Equity is considering selling natural ingredient maker Diana in a deal which could be worth 1 billion euros ($1.35 billion), the Financial Times reported citing people familiar with the matter.
The Paris-based buyout fund manager is asking JPMorgan Chase & Co (JPM.N) to advise on the sale, the people told the FT. (link.reuters.com/tyw33v)
Private equity groups Blackstone (BX.N), BC Partners BCPRT.UL, Cinven CINV.UL, PAI Partners and Charterhouse Capital Partners CHCAP.UL are planning to submit indicative bids at an auction scheduled for the beginning of next year, the people told the FT.
France's Diana generated 415 million euros in revenue last year making nutritional ingredients for the food and pharmaceutical industries.
AXA Private Equity, JPMorgan and the potential bidders could not immediately be reached for comment.
(Reporting by Abhirup Roy in Bangalore; Editing by Christopher Cushing)
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