Hayes / UK. (div) Blackstone Group and PAI Partners are sounding out investment banks to advise on an auction of United Biscuits (UB). The leading manufacturer of biscuits and snacks could be worth two billion GBP. Its snacks and biscuits divisions may be sold individually, British newspapers assume. The two private equity giants bought the maker of McVitie´s biscuits and Jacob´s cream crackers for 1,6 billion GBP in late 2006. The sale of UB, which has revenues of 1,3 billion GBP and net debt of 1,2 billion GBP, is likely to attract interest both from branded food manufacturers and private equity groups. Blackstone, PAI Partners and United Biscuits all declined to comment on the situation.
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