The sale of Cadbury chocolate producer's Romanian operations,set to be this year's biggest deal on the sweets market, is poisedto be sealed in three months at the latest, with severalmultinationals and foreign investment funds now running in therace, market sources told ZF. While more than 5-6 names had beeninitially mentioned on the list of interested buyers, chances ofthe deal being sealed at a value of more than 50m euros are slim.This value accounts for half of the sum Cadbury paid in 2007 toacquire Kandia-Excelent, a company that subsequently became CadburyRomania. "Given the current context, the deal is likely to revolvearound 50m euros," says an M&A consultant. Other market sourcesvalue the company, with 33m-euro sales in 2008, at 30-50m euros.The names mentioned as possible buyers that started talks withKraft include Hershey, Nestle, Ülker, as well as large investmentfunds, such as Advent or Mid Europa Partners. "We're still seekinga buyer for Cadbury Romania. At this moment, we have nothing toannounce," stated the representative of Kraft Foods Romania,Kandia's current owner.
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