Two of the biggest hitters in private equity, KKR and CVC, are among the bidders to have put forward offers of more than €3 billion for B&B Hotels.
Goldman Sachs’ investment division, which is looking to offload the hotels chain, is understood to have received a handful of proposals pitched between €3.2 billion and €3.3 billion.
KKR, the New York-based fund whose investments include Viridor, the British recycling company, and the Wella brand of haircare products, is said to be involved in the auction, as is the Luxembourg-based CVC, which is also exploring a takeover of Hargreaves Lansdown, the London-listed investment platform.
Another bidder is said to be PAI Partners, the French private equity house that sold B&B to Goldman in the summer of 2019.