From Sky News:
The Co-operative Group has rebuffed a string of takeover approaches for its funerals arm amid a controversial restructuring of its troubled banking division.
Sky News has learnt that buyout firms including CVC Capital Partners, the controlling shareholder of Formula One motor racing, and Montagu Private Equity, a former owner of the Dignity funeral planning business, are among a large number of parties to have expressed an interest in acquiring the Co-op unit in recent weeks.
The prospective buyers have all been rebuffed by the Co-op, whose new chief executive, Euan Sutherland, has made it clear that he does not want to part with any of the mutual’s “crown jewel” assets.
The precise value of the Co-op Funeralcare business is unclear, but analysts expect that it would be worth hundreds of millions of pounds if it were to be sold.