January 23, 2013 / 11:16 AM / 5 years ago

RLPC-R&R Ice Cream attracts three private equity firms

LONDON, Jan 22 (Reuters) - Three private equity firms have gone through to the second round of bidding for R&R Ice Cream, the maker of Fab lollies and Skinny Cow ice cream, banking sources said.

Clayton, Dubilier & Rice (CD&R), Ontario Teachers Pension Plan and PAI Partners are interested in buying the firm, which could fetch around 900 million euros ($1.2 billion), the sources said on Wednesday.

R&R, owned by investment firm Oaktree Capital Management, said in October it was exploring strategic options that could include a sale.

Oaktree was not available to comment, while the three private equity firms and R&R declined to comment.

Bankers are working on putting debt packages together to back the buyout which is expected to include a high yield bond as the firm has an existing 350 million euro bond, issued in November 2010.

R&R, based in Britain, raises its revenue across Europe.

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