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Report: KKR eyes Australian operations of Unilever's Continental Soup business

KKR & Co. Inc. is looking to acquire The Unilever Group's Continental Soup business in Australia, The Australian Financial Review's Street Talk blog reported.

The private equity giant has tapped Jefferies Australia and law firm Allens to manage the potential deal, the report noted. The pair, which helped KKR in its acquisition of Arnott's Biscuits Ltd. from Campbell Soup Co., aided the private equity giant in preparing its nonbinding indicative offer for Continental that was due in the week of Sept. 23.

Any potential deal would include the exclusive use of the Continental brand in Australia, New Zealand and the Pacific Islands, according to the report, citing a flyer sent to potential buyers, which are likely to sell Continental's freehold property for a quick return.