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Tuesday, May 24, 2011

Permira wants 2 billion euros for Provimi-sources, (NUTR)

Private equity firm Permira expects to sell French animal feed business Provimi for around 2 billion euros ($2.8 billion), people familiar with the matter said on Tuesday. The valuation target is based on strong interest from other companies in the sector before the start of the sales process, which is in its early stages, one of the people said. JP Morgan, which is soliciting offers for the business, declined comment, as did Permira and Provimi. A Dutch paper had reported animal feeds group Nutreco NV (NUTR.AS) was preparing a bid for Provimi and was mulling financing options.

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