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Sunday, February 6, 2011

PAI gets nine bids for Yoplait stake-paper, (NYSE: GIS), (NESN), (DANO), (FROB), (AXAF)

Private equity firm PAI Partners has received nine bids for its 50 percent stake in French yoghurt maker Yoplait, French newspaper Journal du Dimanche reported on Sunday. Among the bids on the table are offers from U.S. foodmaker General Mills (GIS.N) and Switzerland's Nestle (NESN.VX), the weekly reported without giving its sources. Unlisted Yoplait, the world's second-biggest yoghurt maker after Danone (DANO.PA), is half owned by PAI Partners and farming cooperative Sodiaal. PAI hired banks in September to find buyers for its stake. Other bidders reportedly include Mexico's Grupo Lala, Chinese conglomerate Bright Food Group, French cheese maker Bel (FROB.PA) and French dairy group Lactalis as well as private equity firm's Axa Private Equity (AXAF.PA), Bain Capital and Lion Capital.

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