SPAIN - Permira set to acquire fast-food giant Telepizza

Permira is set to acquire Spain's biggest pizza delivery chain in a EUR 572m deal according to reports in the Independent on Sunday. Permira was favoured by the board of Telepizza, which will be de-listed from the Madrid stock exchange as a result of the deal, even though CVC put in a bid which was EUR 60m higher. CVC's offer was made through rival fast-food company Grupo Zena and was rejected on the grounds of its hostility.