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Article: Duke Street first in Homebase queue
- Article from:
- The Independent (London, England)
- Article date:
- September 24, 2000
- Author:
CopyrightCopyright 2000 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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DUKE STREET, the venture capitalist that controls Focus-Wickes,
has emerged as the front-runner in the race to acquire Homebase, the
rival DIY chain put up for sale by Sainsbury.
Duke Street is understood to have tabled a higher preliminary bid
than Kohlberg Kravis Roberts, the American buy-out specialist.
Meanwhile Leroy Merlin, the French operator, is understood to be
dragging its heels amid signs that Sainsbury is keen for an early
conclusion to the sale. Charterhouse Development Capital and Cinven,
the other venture capitalists that expressed an interest in Homebase,
have already pulled out. A bid from Home Depot, the American DIY
giant, has also failed to materialise.
The sale of ...