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Mondelēz, the owner of Cadbury, has bought back the licence for its biscuit business, including Cadbury's Fingers, in a deal worth up to £200m.
Mondelēz, the owner of Cadbury, is in talks to buy back the licence for the British chocolatier's biscuit business in a deal worth up to £200m.
But opinion is divided over how much more it can afford given its debt pile of $20 billion, a hangover from its purchase in 2007 of the biscuit business of Danone, a French food firm.
"WE ARE not yet ready to put ketchup on our petits LU," said Christine Lagarde, France's economy minister, after Kraft announced on July 3rd that it had offered €5.3 billion ($7.2 billion) to buy Danone's biscuit business.
As part of the deal, UB, which largely sheds its snacks operations outside Britain, gets PepsiCo's French biscuit business, Biscuiterie Nantaise.Publicis, a French advertising agency, made a $700m bid for its former partner, Chicago-based True North, in which it holds an 18.5% stake.
In talks over the past few months he made Irene Rosenfeld, Kraft's boss, promise that French factories would not be closed and the headquarters of the biscuit business would remain near Paris for the next three years.Mr Riboud is keen to sell his biscuits.
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Northern Foods' shares have edged up as chicken entrepreneur Ranjit Boparan increased his stake in the chilled foods to Fox's biscuits business.
And while Goldman has advised Kraft before, on its purchase of Group Danone's biscuits business and its sale of the Artiach biscuits unit, its most notable role was on the opposite side of the negotiating table.
Danone, a French rival that makes only water, dairy products and biscuits, is doing better than Nestlé in all three sectors, and might focus further by selling its biscuits business.
Mondelēz and Burton's previously held talks two years ago when Burton's was looking to offload its Cadbury biscuits business to help smooth a deal to buy UB, the owner of McVitie's.
In our view, it could be interested in Northern's chilled business and look for interested parties for its frozen and biscuits businesses..
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