FRANCE - Casino's cafeteria business up for grabs

Five private equity houses have made bids to acquire the cafeteria business of the supermarket chain Casino, according to a recent article published in Le Figaro. Rothschild has been mandated to run the auction for the sale of the business, which is valued at an estimated EUR 300m. Bids have allegedly been made by Montagu Private Equity, Barclays Private Equity, Astorg Partners, Gilde Investment and AXA Private Equity. Casino is likely to remain a shareholder in its subsidiary. The parent company runs 216 cafeterias and 26 workplace canteens, which generated a EUR 297m turnover in 2004.