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Lloyds set to re-start 25m sale of Robert Dyas

Lloyds is set to restart the £25million sale of hardware store Robert Dyas, putting out a prospectus for potential buyers within weeks.

The bank delayed the sale last October so buyers could evaluate how the High Street chain performed over Christmas. Like-for-like sales, including VAT, rose 7.4 per cent in the four weeks to December 24, the company said on Friday.

Paul Herman of corporate financier Cavendish, which is handling the sale, said: ‘We’ve had more than a dozen expressions of interest.’ A sale could be completed by the spring.

Lloyds and Allied Irish Bank acquired major stakes in Robert Dyas after a restructuring that saw former owner Change Capital eased out.

Robert Dyas chief executive Stephen McVey left suddenly last month after only five months at the helm.

Source: Alex Hawkes - This is Money.co.uk
http://www.thisismoney.co.uk/money/markets/article-2083543/Lloyds-set-restart-25m-sale-hardware-store-Robert-Dyas.html?ito=feeds-newsxml

07 January 2012
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