Private equity firms "too late" for Homebase sale, says shareholder

One of Home Retail Group’s shareholders has vetoed a sale of Homebase, saying private equity firms circling the DIY and garden supplies retailer have left it “too late”.

There have been rumours of a sale since John Walden took over as HRG’s boss in March. Walden said he would review the business, which also owns Argos.

Cato Stonex of asset management firm Taube Hodson Stonex Partners, said: “If somebody had been brave 18 months ago they could have tried to steal it from us, but now it’s too late.”

In recent weeks it has been reported that turnaround investors Apollo and OpCapita were working on a takeover bid for Homebase.

Source : The Sunday Times
www.thesundaytimes.co.uk/sto/business/Companies/article1453035.ece