July 1 McVitie's maker United Biscuits Ltd is considering undertaking an initial public offering by the end of the year, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
Bankers for the Hayes, England-based company have held informal meetings with potential buyers in recent weeks, the Journal said citing sources. (on.wsj.com/1pTAGab)
However, United Biscuits' private equity owners, Blackstone Group LP and PAI Partners, were now looking at listing the company as a more lucrative alternative, the daily quoted some sources as saying.
The Wall Street Journal said the company was considering a 'dual-track process', in which its private equity owners would move forward with listing plans, while still engaging in talks with interested buyers.
A spokeswoman for United Biscuits declined to comment, while
representatives of Blackstone and PAI Partners could not immediately be reached. (Reporting by Esha Vaish in Bangalore; Editing by Tom Brown)