Imperial set to be trumped by equity pair

Two private equity firms today entered the battle for Spanish cigarette maker Altadis after unveiling a potential €12.8bn offer.

Fri, 04 May, 2007 - 15:15

Two private equity firms today entered the battle for Spanish cigarette maker Altadis after unveiling a potential €12.8bn offer.

The indicative bid from CVC Capital and PAI Partners beats the latest £8.2bn (€12bn) approach from Bristol-based Imperial Tobacco, which is also wooing the Madrid-based company best known for making Gauloise cigarettes.

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