Cleary Reps UK Private Equity Firm In Sale Of Picard

Law360, New York (July 26, 2010, 6:14 PM EDT) -- U.K. private equity firm BC Partners has agreed to sell French frozen food retailer Picard Surgeles to another U.K. private equity firm, Lion Capital LLP, giving Picard its fourth owner since 2001.

Lion Capital has been granted a period of exclusivity for the purposes of reaching a definitive agreement for Picard, according to a joint statement issued Monday.

The companies expect the transaction to be completed in the fourth quarter of this year, following a communication and consultation process and approval from the European competition authorities....
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