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Reading: Owners of Very Group choose banks to lead the £2.5 billion transaction.
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Baner Club > Blog > Business > Owners of Very Group choose banks to lead the £2.5 billion transaction.
Business

Owners of Very Group choose banks to lead the £2.5 billion transaction.

The family that relinquished ownership of The Daily Telegraph last year has appointed three banks to oversee an evaluation of ownership options for their online retail business, Very Group. ..

Last updated: 2024/10/08 at 8:31 AM
Published October 8, 2024
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The Very Group board, headed by former chancellor Nadhim Zahawi, is reportedly gathering Morgan Stanley, JP Morgan, and Barclays to conduct a strategic review that could lead to the end of the Barclay family’s long-standing involvement with the company. This information was obtained by News.

The investment banks will begin a complete or partial auction of Very Group, which has about 4.5 million consumers; their appointments are expected to be announced in the coming days.

The company is refinancing, with lenders including IMI, located in Abu Dhabi, and global investment behemoth Carlyle.

They did, however, add that a sale was more plausible and that bidders would likely be courted based on Very’s technology-driven financial services division and its core retail offering, which includes everything from fashion to electrical products.

Having agreed earlier this year to extend the maturity date for a tranche of the online retail group’s debt, some of those people anticipate Carlyle to finally emerge as the business’s dominant player.

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