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San Miguel weighs bid for UK's United Biscuits - Sky

Published 09/09/2014, 16:49
Updated 09/09/2014, 16:50
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LONDON (Reuters) - Philippino conglomerate San Miguel Corporation (PS:SMC) is considering making a bid for British snacks producer United Biscuits [IPO-UNI.L], Sky News reported on Tuesday.

San Miguel joins a list of other suitors that are looking at buying the owner of well known British snack brands including Jaffa Cakes and Twiglets.

Last month, breakfast cereal maker Kellog (N:K) emerged as a potential buyer and Chinese private equity firm Hony Capital was linked to a deal in January.

Sky News also said on Tuesday that Saudi Arabian food producer Savola Group (SE:2050) was interested in a deal and that Italy's Ferrero, Turkey's Ulker (IS:ULKER) and rival UK biscuit maker Burton's owner Ontario Teachers Pension Plan had held talks with United Biscuits in recent days.

The British company's private equity owners, Blackstone Group (N:BX) and PAI Partners, have been working on plans for a sale or a public share listing that would take place by the end of the year.

(Reporting by Karolin Schaps; Editing by Greg Mahlich)

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