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.
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