Permira sells Provimi as trade bidders fend off buyout rivals

Permira has made 2.3 times its investment on its first full exit this year as trade bidders continue to compete more aggressively with private equity firms

Buyout firm Permira has sold animal food maker Provimi to a trade buyer for €1.5bn in a deal that highlights the strength of corporate bidders over their private equity rivals.

Permira has sold Rotterdam-based Provimi, which it bought for €1.7bn in 2009, according to its website, to food producer Cargill, a statement said.

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