MADRID, Dec 30 (Reuters) - Blackstone Group, the U.S. private equity firm, and Spain private equity company Dinamia agreed to make a binding offer Mivisa, launching a management buyout for the Spanish food cans maker, Dinamia said on Thursday.
No financial details of the acquisition were disclosed.
Dinamia said the key members of the Mivisa managment team, led by Tomas Lopez, will retain a stake in the company.
On Dec. 10, people familiar with the matter said Blackstone had made the only binding offer for Mivisa, owned by the U.S. company's European rival CVD
CVC, which has owned the Murcia-based company since 2005, kickstarted the auction for Mivisa in September, hoping to fetch 1 to 1.2 billion euros from the sale, according to sources. (Reporting by Judy MacInnes; Editing by Jon Loades-Carter)