March 1/Vevey, Switzerland/RTT News -- Nestle SA and packaged food supplier General Mills Inc. are among leading bidders to acquire a 50% stake in French yogurt maker Yoplait, Bloomberg is reporting
Both companies have submitted offers worth about 1.6 billion euros ($2.2 billion). Axa Private Equity is the remaining buyout firm in the race, the report added. A decision on the bid is likely to be made in the next few weeks.
Shanghai-based Bright Dairy & Food Co. has submitted the highest bid of about 1.7 billion euros. However, it is not certain whether the company will gain approval from its authorities. There is also speculation that the French authorities may promote a French buyer.
The stake is being sold by PAI Partners. Sodiaal, the other shareholder in the yogurt maker, does not intend to sell its stake.
From the March 2, 2011, Prepared Foods' Daily News
For more of the latest news from the food and beverage industry, visit Prepared Foods' Daily News