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Retailer New Look could be sold for £2bn

27
Feb '07
New Look, UK fashion retailer, could be sold out for £2 billion. Minimum three bid approaches for the company were received by private equity firms Permira and Apax.

Sources informed that this transaction maybe conducted in form of a secondary buyout. Apax and Permira became New Look's major shareholders three years back, when it was privatized at cost of £700 million.

Chief Executive Phil Wrigley informed the media last month that New Look could comeback to London stock market in 2007. He added that talks regarding plans for acquisition would be conducted between the equity firms and company founder Tom Singh in March.


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