Blackstone, PAI Plan to Divest United Biscuits

Blackstone Group and PAI Partners are considering selling United Biscuits in Britain for more than £2bn ($3.06bn), according to The Wall Street Journal.

The companies are believed to have consulted with investor banks for the possible deal which could be wrapped up early 2011.

In 2006 the companies bought the snack producer for around £1.6bn ($2.4bn).

United reported a 13.7% rise in earnings before interest, tax, depreciation and amortisation last year to £223.4m ($344m).