Blackstone Group plans to come back to Allied Domecq in spite of the collapse of its bid for the drinks company, according to press reports. The US private equity firm wants to acquire Allied's restaurant business from Pernod if the French company succeeds in its takeover plans, the Sunday Times said yesterday (19 June).

Blackstone made up one quarter of the consortium that had conducted due diligence on Allied in the last few weeks. Constellation, Brown-Forman and Lion Capital were also part of the group which announced on Friday that it would not be making a formal bid for Allied.

The newspaper said that Blackstone will seek talks with Pernod to buy the restaurants which are valued at around GBP1.1bn.