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Article: Banks line up for New Look float; [pounds sterling]2bn placing stokes private equity storm.
- Article from:
- The Mail on Sunday (London, England)
- Article date:
- February 25, 2007
CopyrightCOPYRIGHT 2007 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: LAUREN MILLS;BEN MARLOW
FASHION retailer New Look is sounding out major banks with plans for a [pounds sterling]2 billion flotation that will generate massive returns for management and its private equity backers.
Buyout giants Permira and Apax, which own more than 60 per cent of New Look after it was taken private with a [pounds sterling]700 million price tag in February 2004, have been gauging the City's mood for another big retail flotation.
Those contacted include Merrill Lynch, Credit Suisse and Citigroup, the trio of investment banks that will this week bring Sports Direct (see Page 2) to the market for about [pounds sterling]2 ...