PAI puts CEP on the block

Private equity firms including Apax Partners, Montagu, Cinven and Charterhouse are reportedly looking to bid for the company. Rothschild will run the auction process.

PAI partners took a majority stake in CEP in 2005, with management holding the remainder of the shares. The company posted a €90m EBITDA for 2010 and employs 300 people.

CEP would be the third large-cap exit in the works for the Paris-based private equity house: PAI is also looking to divest its 50% stake in French yoghurt maker Yoplait - valued at more than €1.4bn - and UK car parts retailer Kwik-Fit, which is valued at around €770m.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com

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