F & P sends out info to bidders

Fisher & Paykel Appliances Holdings said it has sent an information memorandum to more than 10 parties interested in buying its finance unit.

The timeline for the sale is for indicative bids to be made by February 13 and final bids by late March.

"We are extremely pleased with, not only the number, but also the quality of interested parties that have approached us," said F&P chief executive John Bongard.

Investment bankers believe the company will be wanting between $170 million to just over $200 million and that many interested parties will be private equity players.