In an unsourced report, The Telegraph wrote CapVest hired Merrill Lynch and Deutsche Bank to advise it on a bid, and intends to spearhead a £1 billion (€1.5 billion/$1.9 billion) offer for the business with a private equity partner.
While talks had been held with private equity firm Blackstone, the report said no partnership is finalized.
Private equity firms have more and more teamed up with each other to conduct major deals.
CapVest executives Seamus FitzPatrick and Chris Campbell and Young's Bluecrest CEO Wynne Griffiths told IntraFish in early May while the deal would be a particularly large one for them, they are interested in the Unilever business.
