Lion buying Picard in French LBO

Lehman BrothersThe thriving of sale of Picard, that has persuaded France's finicky consumers that ease food that can be of high-quality, which is the nation's largest leveraged buyout since the September 2008 crumple of Lehman Brothers.

Amidst the mutual statement, that restricts no financial particulars, the firms expressed Lion shall commence discussions with the employee legislature this week in advance of an official accord and the transaction had possibly to absolute in the fourth quarter.

Three people known with the subject expressed the agreement located a venture worth of approximately 1.5 billion Euros on Picard. BC should craft almost double of its preliminary equity investment, one of the people expressed.

Two of the people expressed that Lion made an anticipatory offer during the weekend to chair off opponent Bain Capital, and LBO France, which were also arranging obligatory deals for the group. However the other private equity groups either rejected to remark or had no instant remark.

According to Lyndon Lea, an associate at Lion expressed in the mutual statement that throughout the economic series the firm has geared constantly robust financial presentation by contribution a high quality and ease substitute to fresh food.