ADVFN - Advanced Financial Network.
HOME» NYSE » C » CS Stock Price » CS Stock News

Credit Suisse Grp. Share News

 Credit Suisse Grp. Stock Price
CS Stock Price
 Credit Suisse Grp. Stock Chart
CS Stock Chart
 Credit Suisse Grp. Stock News
CS Stock News
 Credit Suisse Grp. Company Information
CS Company Information
 Credit Suisse Grp. Stock Trades
CS Stock Trades

Blackstone, BC Partners Won't Submit Higher Bid For Iglo - Source

By Marietta Cauchi LONDON--Buyout groups Blackstone Group (BX) and BC Partners aren't submitting a revised offer for European frozen food group Iglo, after their initial approach was rejected by Iglo's owner, Permira, a person briefed on the matter said Wednesday. Permira rejected a bid valuing Iglo, Europe's largest branded frozen foods business, at around 2.5 billion euros, or about $3.12 billion, because it came in below the EUR2.8 billion to EUR3 billion price Permira wanted, people previously told Dow Jones Newswires. Permira bought Iglo from Unilever PLC (UNA.AE) for EUR1.7 billion in 2006 and, in July 2010, recombined its Birds Eye unit with Unilever's other frozen-food business, Findus Italy, in a GBP675 million deal. Earlier this year it hired Credit Suisse Group AG (CS) to advise on a sale of the business. Blackstone and BC Partners decided to team up on a joint bid last week after earlier having been in competition to buy the company, which makes frozen food staples like fish fingers and the Bake to Perfection food range in the Captain Birds Eye range. Rival buyout firm PAI Partners withdrew from the auction last month while Thai food group Charoen Pokphand PCL (CPF.TH) was also interested in parts of the company. It didn't submit a formal bid. Permira is now expected to support Iglo's consolidation strategy which was agreed before the sales process was launched. In particular, the company plans to expand across Europe with an emphasis on eastern Europe. There has also been speculation that Iglo was interested in buying Findus Group, the U.K.-based frozen food maker owned by Lion Capital with operations in the Nordics and France as well as the U.K. However, Lion Capital is now focused on restructuring the business. Write to Marietta Cauchi at [email protected]

Stock News for Credit Suisse Grp. (CS)
DateTimeHeadline
03/21/201710:45:00AXA App Wins Industry Marketing Award
03/14/201709:34:00Commodities Slightly Increased Amid Uncertainty
03/13/201709:00:00The LPGA Foundation and AXA In Alliance to Develop Next Generation...
03/09/201716:30:00Correction to BlackRock Story on March 8
03/09/201716:05:00Credit Suisse AG Announces the Reverse Splits of its DGAZ, VIIX...
03/08/201720:11:00BlackRock Hires Former Credit Suisse Banker to Lead Credit Push
03/07/201709:48:00HSBC Sells a Portfolio of US Consumer Mortgage Loans for $1.50...
03/02/201708:30:00Credit Suisse Announces Coupon Payments and Expected Coupon Payments...
02/28/201711:00:00Credit Suisse Releases 9th Annual Hedge Fund Investor Survey
02/23/201703:03:00Credit Suisse Under Investigation -- WSJ
02/22/201719:17:00Credit Suisse Under Investigation for Aiding Tax Evasion at Israeli...
02/16/201714:12:00AXA Recognized Again in 2016 by Corporate Insight Monitor Awards...
02/14/201706:55:00Credit Suisse Posts Wider Loss Than Expected in Fourth Quarter...
02/14/201704:17:00Credit Suisse Posts Wider Loss Than Expected in Fourth Quarter...
02/14/201703:33:00Credit Suisse Posts Wider Loss Than Expected in Fourth Quarter...
02/14/201702:28:00Credit Suisse Swings to Loss in Fourth Quarter -- Update
02/14/201701:52:00Credit Suisse Swings to Loss in Fourth Quarter
02/09/201709:20:00Commodities Slightly Increased Amid Uncertainty
02/06/201711:54:00Credit Suisse Sees Brazil Resuming Growth in 2017
02/06/201710:17:00Trey Reynolds Joins AXA to Lead US Life Insurance Sales

Credit Suisse Grp. and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US