Financial Times is reporting that Lion Capital is in advanced taks to sell Nordic operations of the frozen food maker Findus. FT lists Nestle, Orkla ASA (OSE: ORK) and Lerøy Seafood Group ASA (OSE: LSG) as the three most likely candidates. Already back in November FT mentioned that Lion Capital was planning such a move. Both Orkla and Lerøy Seafood finished the day in the red.
Findus is the market leader in frozen ready meals, fish and vegetables segments in Sweden, Finland and Norway. Findus brand originated in Sweden and the Nordic operations contribute a significant portion (roughly half a billion Euros per annum) into its revenues. A deal could value the operations between 700-800 million. The article, which requires registration, is available from here.
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