DSM, Cargill, Others Bid on PE-Owned Provimi

French animal feed maker Provimi, which is owned by buyout shop Permira, has seen a slew of first round offers from the likes of Cargill, China’s New Hope Group, and Dutch companies DSM and Nutreco, Reuters reported. A potential buyout of Provimi could reach as high as 2 billion euros ($2.9 billion). JP Morgan is conducting the auction. Second round bids are expected in about six weeks.

(Reuters) – Dutch firm DSM , U.S. group Cargill [CARG.UL], Dutch company Nutreco and China’s New Hope Group Co. have lodged first-round offers for French animal feed-maker Provimi, two sources familiar with the matter said on Thursday.

Provimi, owned by private equity group Permira, has been exploring its options. Sources said first-round offers were lodged this week in a potential deal that could value the group at about 2 billion euros ($2.9 billion).

Second-round offers are due in about six weeks time, one of the sources said, adding there has been wide interest. Joint bids are also possible.

JP Morgan , which is conducting the auction, and Permira declined to comment.

(Reporting by Aaron Gray-Block in Amsterdam and Victoria Howley in London)