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Blackstone holds talks with Malcolm Walker on bid for Iceland

Private equity group Blackstone has been holding talks with Iceland chief executive Malcolm Walker about backing his potential £1.5 billion bid for the frozen food chain according to the Sunday Telegraph.

CITY & CORPORATE

Blackstone holds talks with Malcolm Walker on bid for Iceland

Walker already owns a 23% stake in business and is looking to buy the remaining 77% which has been put up for sale by the creditors of failed Icelandic bank Landsbanki.

A number of other parties have been reported to be interested in making a bid for the chain including  Morrisons, Asda and several private equity firms.

The paper added that Walker also has six debt providers he could partner with should he decide to go it alone.
 
Blackstone declined to comment to the newspaper on the story.

 

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