Unilever brews shortlist for £4bn sale of PG Tips and Lipton Ice Tea

Unilever brews shortlist for £4bn sale of PG Tips and Lipton Ice Tea

Unilever has brewed a shortlist of bidders for its PG Tips and Lipton Ice Tea brands as it brings the £4bn auction to the boil.

Sky News has learnt that CVC Capital Partners has made it through to the second round of one of the year's biggest consumer goods sale processes, and will vie with three of its biggest rivals to buy the division.

City sources said that CVC was bidding against bids from Carlyle; a joint offer from Advent International; and a consortium comprising Cinven and the Abu Dhabi Investment Authority.