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French PAI reaches Scottish & Newcastle shortlist

French private equity firm PAI Management is among the firms that have made it through to the next round of the £2.5bn Scottish & Newcastle sale. But, despite today's deadline for tabled offers, there is still a possibility that new bidders could step in.

The Barclays brothers and a string of trade buyers make up the rest of the shortlist. 

The sale of the Scottish & Newcastle's 1,450 pubs and restaurants has attracted a wide range of private equity and trade bidders. Interested parties include Cinven, CVC, BC Partners, Terra Firma, Blackstone and Sun Capital.

Scottish & Newcastle own some of Europe's most prestigious beer brands, including Kronenbourg and Fosters. The deal is expected to be completed later this Autumn.

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