Paris-based insurance group’s private equity arm set to sell off ingredient maker

Axa Private Equity is weighing up a sale of its natural ingredient maker Diana in a sale that could raise €1bn (£840m), reports the Financial Times.

According to reports, JP Morgan Chase and Co will advise the Paris-based firm on the sale. Blackstone, BC Partners, Cinven, PAI Partners and Charterhouse Capital Partners are all expected to post indicative bids at an auction due to be held at the start of 2014.

Diana, an ingredient maker for food and pharmaceutical industries, made €415m in revenue last year.

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