{"id":34286,"date":"2009-10-28T11:37:58","date_gmt":"2009-10-28T15:37:58","guid":{"rendered":"http:\/\/www.pehub.com\/?p=53968"},"modified":"2009-10-28T11:37:58","modified_gmt":"2009-10-28T15:37:58","slug":"buyout-firms-jostle-for-discount-retailer-matalan","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/34286","title":{"rendered":"Buyout Firms Jostle for Discount Retailer Matalan"},"content":{"rendered":"

LONDON (Reuters) – Private equity firms are vying to get on a shortlist of potential buyers for discount retailer Matalan, which could fetch up to 1.5 billion pounds ($2.46 billion), sources familiar with the matter said.<\/p>\n

European buyout house CVC kicked off interest in the retail empire majority-owned by founder John Hargreaves and has since been followed by other private equity suitors, including TPG and Cinven, sources said.<\/p>\n

Advent International, whose investments include British budget store chain Poundland and German fashion retailer Takko, is also hoping to make it on the shortlist, another source said.<\/p>\n

The buyout firms and Matalan declined to comment.<\/p>\n

Matalan has not kicked off a formal process but has asked long-term adviser PWC to investigate a possible sale, which could see a short field of potential buyers assembled.<\/p>\n

“(PWC) wants to invite people into quite a tight process,” said a source, adding he expected a sale to kick off this quarter.<\/p>\n

Despite the flurry of interest from buyout houses, some were sceptical the business could achieve the 1.5 billion pound valuation. A source close to one of the potential bidders said the figure was too high.<\/p>\n

Bankers expect Blackstone (BX.N) and KKR will be interested in the business. Both firms declined to comment.<\/p>\n

PWC confirmed it was working on a possible sale but declined to comment on the process. (Additional reporting Victoria Howley; editing by Jon Loades-Carter) ($1=.6107 Pound)<\/p>\n

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LONDON (Reuters) – Private equity firms are vying to get on a shortlist of potential buyers for discount retailer Matalan, which could fetch up to 1.5 billion pounds ($2.46 billion), sources familiar with the matter said. European buyout house CVC kicked off interest in the retail empire majority-owned by founder John Hargreaves and has since […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-34286","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/34286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=34286"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/34286\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=34286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=34286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=34286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}