Bloomberg News

Triton Enters Bid for Lion Capital’s Findus, Sunday Times Says

June 10, 2012

Triton Partners, an investment firm managing more than $3 billion, is bidding for Findus Group Ltd., the frozen-food company owned by Lion Capital LLP, the Sunday Times reported, without saying where it got the information.

Lion, a private-equity firm that has bought some of Findus’s subordinated debt, has teamed up with two U.S. hedge funds that also own the notes in a bid to prevent senior lenders, including Royal Bank of Scotland Group Plc (RBS), taking over the business, the newspaper said.

Triton’s 240 million-pound ($371 million) offer would repay senior lenders in full while wiping out the junior debt holders, the Sunday Times said.

To contact the reporter on this story: John Glover in London at johnglover@bloomberg.net

To contact the editor responsible for this story: Paul Armstrong at parmstrong10@bloomberg.net


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