By Maria Ermakova - Oct 9, 2011 4:55 PM GMT+0700
Blackstone Group LP (BX) may back the bid for Iceland Foods Ltd. by Malcolm Walker, the retailer’s founder and chief executive officer, the Sunday Telegraph reported.
The U.S. private equity firm has held talks with Walker about backing his likely bid of as much as 1.5 billion pounds for the 77 percent of Iceland Foods that he doesn’t already own, the newspaper said, citing unidentified people.
The first-round bids are expected to be submitted by the middle of this month and Walker may make a decision on how to finance his bid as soon as this week, the Sunday Telegraph said. The retailer is being sold by Icelandic banks Landsbanki Islands HF and Glitnir Banki HF, according to the newspaper. Officials at Blackstone declined to comment to the Sunday Telegraph.
To contact the reporter on this story: Maria Ermakova in London at mermakova@bloomberg.net
To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net
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