HONG KONG, March 7 U.S. private equity firms
Blackstone Group LP and TPG Capital have placed
separate final bids for Australia's largest poultry producer,
Inghams Chicken, sources with direct knowledge of the matter
told Reuters on Thursday.
The bids could value the privately-owned company at around
A$800 million ($821 million), a separate source said.
Ahead of Thursday's deadline, Blackstone and TPG both
submitted final bids backed by bank financing, with Blackstone
tapping funding from U.S. markets and TPG using a consortium of
commercial banks, the sources added.
Bob Ingham, the sole shareholder of Inghams Enterprises,
which owns the Ingham Chicken brand, put the poultry producer up
for sale in July last year, and hired Investec Bank to run the
Blackstone and TPG did not immediately respond to calls
seeking comment. A call to Ingham's Sydney office was not
answered. The sources could not be named as details of the deal
were not public.