Bloomberg News

Permira Aims to Sell Iglo Foods for $4 Billion, Telegraph Says

March 25, 2012

Permira Advisers LLP, a European private-equity firm, is seeking to sell Iglo Foods Group Ltd., the continent’s largest frozen-food company, for almost 3 billion euros ($3.98 billion), the Sunday Telegraph said.

Credit Suisse (CSGN) will run the auction, which will be one of the biggest private-equity deals this year, the London newspaper reported, without saying how it obtained theinformation. Iglo’s profit has grown 8 percent every year since 2008, and Permira hopes to sell the business for eight or nine times earnings, valuing it at 2.6 to 2.9 billion euros, according to the article.

To contact the reporter on this story: Isaac Arnsdorf in London at iarnsdorf@bloomberg.net

To contact the editor responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net


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