PE houses lose out on Iceland auction

Bain and BC Partners were reportedly among final bidders for the asset. The vendors, failed Icelandic banks Landsbanki and Glitnir, are understood to have arranged a £250m loan for Walker. The CEO is now looking to complete his financing package.

It was reported that Walker, who already owns a 23% stake in the business, made a £1bn bid for Iceland around a year ago but did not participate in the first round of this latest auction. Second-round bids were initially due to be submitted in December last year, but the schedule was delayed following discussions among shareholders regarding the amount of information to be disclosed to suitors.

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• UK / Ireland
• Consumer
• Bain Capital Europe
• BC Partners