Property Week - December 4, 2003
City sources said this week that a deal was in the final stages of being completed with Baroness Retail, the new owners of the department store group. The consortium between venture capitalists CVC Capital Partners, Texas Pacific Group, and investment house, Merrill Lynch Global Private Equity agreed to acquire Debenhams for Pounds 1.7bn on 23 October. Following completion of the takeover today, Debenhams shares will be delisted tomorrow. British Land has been in talks with Baroness Retail for weeks over a sale-and-leaseback of up to 16 stores since September. However, both parties have refused to confirm whether a deal will happen. Cushman & Wakefield Healey & Baker is advising Baroness.
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Wednesday, December 10, 2003
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