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Article: New Look for sale with [pound]2bn price tag ; BUSINESS
- Article from:
- The Independent (London, England)
- Article date:
- February 26, 2007
- Author:
CopyrightCopyright 2007 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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The fashion chain New Look is up for sale with a [pound]2bn price
tag just three years after it was taken private for [pound]700m.
The company's private equity owners, Permira and Apax, are
understood to have received at least three unsolicited approaches
for the business, including from the rival buyout group Texas
Pacific.
Although speculation has been mounting that New Look could return
to the public market later this year, sources say a secondary buyout
is the favoured option. This is particularly in the light of the
poor performance from Debenhams since it came back to the stock
market last year.
Permira head Damon Buffini has spoken about the success his
company has achieved with ...