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Blackstone, Affinity could bid for Australian chicken farmer Ingham

10 Oct 2012

Blackstone Group and Affinity Equity Partners are reported to have expressed an interest in buying Australia’s largest poultry producer Ingham, in a deal that could be worth as much as $1.4bn.

The company, which has annual sales of A$2.1bn, could sell for up to seven times its fiscal 2013 earnings, according to Business Day, which put the top sale price at $1.4bn.

Indicative bids are expected next week, the report added.

The news comes a month after Blackstone appointed James Carnegie as a senior advisor focusing primarily on the firm’s Australian private equity activities.

Based in Sydney, Carnegie was most recently a partner with Archer Capital, one of Australia’s leading domestic private equity firms.

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