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Private equity groups interested in Ladbrokes
Reports in the UK press suggest the Hilton Group has received approaches from three private equity groups about buying its Ladbrokes business.

Hilton announced in October it was in discussions with its US namesake Hilton Hotels Corporation about selling its hotels business with Ladbrokes becoming a standalone gambling business.

The reports suggest private equity groups BC Partners, Blackstone Group and CVC Capital Partners have each registered an interest in the betting business. It is thought any possible deal could value the standalone company at up to £4bn (US$5.2bn).

The Hilton statement to the London Stock Exchange stated the company remained focused on “concluding its negotiations with HHC” and had “great confidence” in the future of the betting side of its business.

Analysts remain confident the deal with Hilton in the US will go through early next year though they are not surprised by the private equity interest.

The Hilton share price rose nearly 4% at one point on the day of the news to hit a year high of 372.5p. “Hilton shareholders should be very happy with the situation at present,” the statement said.