The private equity funds of Blackstone (BX.N) and Apollo (APO.N) are the only two bidders left in the sale of Spanish gaming hall operator Cirsa, raising doubts about whether the sale will go ahead, sources familiar with the matter said.
The sale process is due to wrap up any day now, but Cirsa, which has also explored the possibility of a market listing, is disappointed with so few bids, two of the sources said.
Spokesmen for Apollo and Blackstone and a spokeswoman for Cirsa declined to comment.
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