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)