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Private equity firms rumoured to be circling Homebase

Private equity firms are circling Homebase once again after owner Home Retail Group said last week it planned to close a quarter of the stores and start a 3-year turnaround plan.

Sources say at least one private equity firm has approached a retail veteran to partner in a possible bid.

In August investment houses OpCapita and Apollo ran their slide rules over the business after new chief executive John Walden launched a strategic review which they read as code for a sale.

As much as 80 per cent of both sales and profit at Home Retail Group comes from its core Argos business.

Source : ThisIsMoney.co.uk
www.thisismoney.co.uk/money/markets/article-2808597/Private-equity-firms-circling-Homebase-owner-Home-Retail-Group-says-plans-close-quarter-stores.html

27 October 2014

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