Mike Ashley, founder of Sports Direct in 1982, is selling a 2.6 per cent stake in the business, worth £117 million, in a deal with Goldman Sachs.
Analysts at investment bank Goldman Sachs have told some of the UK’s largest supermarkets to close a fifth of their stores to combat increased competition.
Ever the retail maverick, Mike Ashley has turned his investor focus on Tesco, making a £43 million bet that shares in the supermarket will bounce back following revelations of a £250 million deficit in the retailer’s accounts earlier this week.
According to sources close to Reuters, Wal-Mart Stores Inc. is considering making a bid for Hong Kong supermarket, ParknShop, valued at USD 4 billion. The acquisition is sparking interest from corporate and private equity buyers after Hutchison Whampoa Ltd, the conglomerate owned by Asian business mogul Li Kashing, put an August 16 deadline on the sale.
The Australian surf wear retailer Billabong International has received a AUD 766 million takeover offer from an undisclosed equity group. Australian Finance Review reported on Thursday that it is believed to be TPG Capital, although the source of the tipoff was not disclosed.
Discount retail group Peacocks is considering the closure of up to 200 shops to safeguard the company’s future. The closures would strike around one in five of Peacock’s stores, and are being discussed as part of a broad restructuring plan aimed at safeguarding the company’s future, according to Sky’s Mark Kleinman.
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