Department store chain Debenhams is contemplating a return to the stock market and has asked four banks to prepare proposals. The deal could be worth £3 billion or more.
Investment banks Merrill Lynch, Morgan Stanley, Credit Suisse and Cititgroup have issued proposals, reports the Financial Times. They were the four that handled the £1.9 billion refinancing of Debenhams.
Debenhams could chose to remain privately-held and opt for another refinancing, however, if the company does go public, it will be the London stock market’s biggest deal this year.
Debenhams is owned by a consortium of private equity groups. TPG, CVC and Merrill Lynch Private Equity acquired the chain in 2003 for £1.9 billion and invested £600 million of equity in the company. Since then the consortium has received repayments of about £1.3 billion, more than double the original combined investment.
Click Here: liz claiborne perfume
Comments are closed