U.S. private equity firm Carlyle Group has asked investors to submit bids for Irca in a deal valuing the Italian food ingredients maker at more than 1 billion euros ($1.1 billion), two sources close to the matter said.
Carlyle, which owns 97% of the group based north west of Milan, has sent out initial teasers to investors and expects non-binding bids to come in the first half of April, the sources said.
In 2017, Carlyle bought an 80% stake in Irca from European private equity fund Ardian and from the company’s founding family Nobili.
Read more: Reuters
