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BC Partners to bid for Six Continents' pub business

Pan-European private equity firm BC Partners is reported to be planning to bid for Six Continents' pubs business, which includes All Bar One and O'Neill's.

The firm has assembled a management team Including Martin Grant, formerly of brewery group Vaux, according to the Financial Times.

Six Continents is currently in the process of demerging, and private equity firms including The Blackstone Group, KKR and CVC Capital Partners are also understood to be considering a bid for the hotels side of the business, which includes InterContinental and Holiday Inn.

Six Continents last week managed to see off a hostile bid of £5.6bn from Hugh Osmond's Capital & Management Investment group.

Private equity firms with money to spend stand to gain from the break up of large conglomerates struggling in the current hostile environment. Six Continents has suffered a prolonged period of under-performance.

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