Electronics and furniture retailer Courts Asia has been put up for sale by an investor group led by Baring Private Equity Asia. A source close to the deal said the group would consider offers above SGD 500 million, (GBP 246 million). Asia Retail Group, which owns Courts, has hired HSBC and BNP Paribas for the sale.
The Pizza Expess, Zizzi and Ask owner has appointed bankers as it prepares for a sale due next year.
Gondola has charged French Bank BNP Paribas with changing the terms of £500m of senior debt for the group to repay in an ‘amend and extend’ deal.
The move will pave the way for Gondola’s sale which is expected at some point next year although could be dragged out until 2013. As one of the UK’s largest leisure companies, parent company Cinven paid £1.3 billion for the group which also covers Byron and Kettner’s brands.
Hermès, famous for its Birkin bags loved by celebrities such as Victoria Beckham has appointed Merrill Lynch and BNP Paribas for advise. The move comes after LVMH built a 17.1pc stake in Hermès, prompting speculation the company controlled by Bernard Arnault, France's richest man, is interested in making a bid. See more on Telegraph
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