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Co-op rejects private equity bids for funeral care unit

22 Nov 2013

funeralPrivate equity firms including CVC and Montagu has reportedly approached The Co-operative Group about its funeral care business.

The suitors have all been rebuffed by Co-op, which is unwilling to sell any of its “core assets”, said Sky News.

The business is valued at “hundreds of millions of pounds”, although its precise value is unclear, said the report.

Co-op is currently the UK’s largest provider of funeral care services with 880 sites around the country.

CVC has been working on a bid for the business for some time and has made several approaches suggesting various structures for a deal, said Sky.

“There is no interest in selling and that has been made clear to those who have made approaches,” a source told Sky.

Meanwhile, CVC-backed Chinese drug seller Asia Health Century International is reportedly planning to raise up to $300m from an IPO next month.

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