LONDON (Dow Jones)--French private equity firm Eurazeo SA (RF.FR) has received at least three final bids for its B&B budget hotel chain, people familiar with the situation told Dow Jones Newswires Wednesday.
Buyout companies PAI Partners, Carlyle Group and Bridgepoint submitted bids by Monday's deadline, the people said. It is unclear whether LBO France and U.S. hotel and real estate company Starwood Capital, which were previously interested, participated in the final round.
Eurazeo has hired Rothschild to run the sale which includes 181 hotels in France, 32 in Germany and three in Italy. The company had EUR202 million in revenue last year and earnings before interest, taxes, depreciation and amortization are estimated at around EUR46 million for 2010.
The business was put on the market for EUR450 million but bids could come in at up to EUR500 million, one person said
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