New Look in negotiations with Chinese equity firm Fosun
The owners of New Look, Apax and Permira are in preliminary negotiations with Chinese private equity fund Fosun, but also with CDH and Citic Capital. Fosun is known in the fashion world after becoming a key shareholder last year in Germany's Tom Tailor, and in 2013 buying a 35% stake in Italian luxury menswear manufacturer Caruso.
The Sunday Times reportes that these discussions are still in the preliminary stage whole a stock market listing for the British chain is still a backup option. An option that was already postponed once in 2010 due to the market conditions.
The idea of a stock market listing resurfaced in February, when the chain commissione JP Morgan to do the paperwork, for an estimated value of 2 million pounds. At the same time, Goldman Sachs was hired on to explore the possible investors for the company.
Following its sale of French retail chain Mim last year, the New Look group incorporates a network of some 800 stores, with 569 in the UK and the others spread out in 21 different countries.
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