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Article: Sainsbury's checked out by private equity cash: how would a private equity deal work at Sainsbury's? And would it work?(analysis)
- Article from:
- Grocer
- Article date:
- February 10, 2007
- Author:
CopyrightCOPYRIGHT 2007 William Reed Ltd. 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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They're queuing up at Sainsbury's. It's suddenly on the shopping list of some of the biggest names in private equity with a price tag reportedly topping 11bn [pounds sterling].
First, last Friday, a CVC, KKR and Blackstone consortium was forced to reveal its interest in acquiring Britain's third-largest grocer. Next in the queue was a Cinven and Texas Pacific consortium. Delta Two, Permira, Apax and BC Partners have joined the line of interested parties. Even Marks & Spencer is said to be interested.
So, why is Sainsbury's so interesting? Why has it not been put off by the surge in its share price, in the last 18 months, and in the last eight days. ...