The Blackstone Group L.P. (NYSE:BX) and PAI Partners, the co-owners of United Biscuits (Holdings) Limited, have mandated JP Morgan to run an auction with a view towards selling the business for £2 billion towards the end of 2014. The move comes as the private equity firms, which could alternatively decide to float United Biscuits, are believed to have attracted interest for United Biscuits from Pepsico, Inc. (NYSE:PEP), Campbell Soup Company (NYSE:CPB) and Mondelez International, Inc. (NasdaqGS:MDLZ).