date:Dec 17, 2012
o meantconverting 240 million of mezzanine debt into equity. Lion,which bought Findus for 1.1 billion in 2008, now owns about athird of the company. As of December, Findus had net debt of683.5 million and equity of 440 million.
Its bigger rival, Birds Eye Iglo, pulled plans earlier this yearfor a sale after receiving bids that priced the maker of CaptainBirds Eye fish fingers below the EUR 2.8 billion sought byprivate equity owner Permira. Some putative buyers had viewed anyacquisition as a pla