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Candover beats French and UK firms to Picard buyout

A consortium led by UK private equity house Candover has defeated the UK's Apax Partners and French rivals to lead the €920m ($840m) buyout of Carrefour's French frozen food unit Picard Surgeles.

An auction by French supermarket chain Carrefour, which has a 79% stake in Picard, has resulted in the management buyout.

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