Premier Foods nears sale of Hovis' controlling stake to Gores
Premier Foods could reveal in the next few weeks the sale of a controlling stake in its Hovis bread unit to the private-equity fund Gores, The Sunday Times reported.
The unsourced report said Gores has become the leading bidder, following a competitive auction process against rivals, including PAI Partners and Sun European Partners.
The values of the offers made for Hovis were not specified in the report; London-listed Premier has a market capitalisation of GBP 311m (EUR 375m).
Source Sunday Times