Financial Services Industry
Industry: Email Alert RSS FeedJP Morgan's double role in Hicks Muse Weetabix takeover.
Financial News, November, 2003
Byline: Caroline Meehan
Hicks Muse Tate & Furst, the US private equity group, has hired JP Morgan to advise it on the [pounds sterling]642m ([euro]914m) acquisition of Weetabix, the UK breakfast cereal maker. It is the first time JP Morgan has advised Hicks Muse on a European food deal.The mandate is a twin play for JP Morgan, which also provided debt for the deal.
JP Morgan has provided debt for all of Hicks Muse's food deals and has advised on several of Hicks Muse's European deals, but none in the food sector. It advised Hicks Muse on its acquisition this year of Pinnacle Foods, a US food company.
Hicks Muse said it did not have an exclusive relationship with any investment bank. It used Schroders to advise on two of its largest food...
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