PAI Partners Mulls Sale Of 50% Stake In Yoplait -Source

22nd Jul 2010 15:37

By Marietta Cauchi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--PAI Partners is considering a sale of its 50% stake in French dairy products company Yoplait and is asking investment banks to pitch for the business which will initially involve evaluating the company before the buyout firm decides on an auction, a person familiar with the situation told Dow Jones Newswires Thursday. PAI bought its 50% holding from the French dairy cooperative Sodiaal, which retained a 50% stake, in June 2002. It is unclear whether Sodiaal would be interested in either selling its stake as well or buying PAI's interest. Yoplait, based in Boulogne Billancourt, France, is the world's second-largest brand in fresh dairy products, after Danone SA (DANOY) with a 9% global market share, according to PAI's website. It is just one of several companies in the food sector that are currently attracting M&A interest. PAI and Blackstone Group (BX) are also holding a beauty contest among banks for a possible auction of United Biscuits, the snacks company they own jointly, while just earlier this week Permira beat off Lion Capital in a hotly-contested battle for Unilever PLC's (UL) Italian frozen foods unit. -By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241; [email protected] (END) Dow Jones Newswires July 22, 2010 10:37 ET (14:37 GMT)