×
52
Fashion Jobs
SHISEIDO
Drunk Elephant Account Manager - Arnotts Dublin (37.5 Hours)
Permanent · Dublin
LEVI'S
Summer Stylist Temp
Fixed-term · Kildare
RITUALS
Store Manager - Dundrum (40 Hours)
Permanent · Dublin
RITUALS
Sales Advisor - Dundrum (8 Hours)
Permanent · Dublin
CLAUDIE PIERLOT IRLANDE
Sales Assistant - 16h - Permanent - Dublin m/f
Permanent · DUBLIN 2
CLAUDIE PIERLOT IRLANDE
Sales Assistant - 15h - Permanent- bt Dundrum m/f
Permanent · DUBLIN
CLAUDIE PIERLOT IRLANDE
Sales Assistant - 10h - Fixed-Term - bt Dundrum m/f
Fixed-term · DUBLIN
LULULEMON
Educator | Brown Thomas Grafton st Part-Time
Permanent · Dublin 2
BA&SH
New Opening - Staff Members - Dundrum Dublin
Permanent · DUBLIN
LULULEMON
Key Leader | Brown Thomas Grafton st
Permanent · Dublin
AMERICAN VINTAGE
Assistant Store Manager (M/W) New Opening
Permanent · KILDARE
RITUALS
Sales Advisor - Galway (24 Hours)
Permanent · Galway
BA&SH
Sales Assistant - Kildare Village - New Opening
Permanent · KILDARE
BA&SH
Store Manager - Kildare Village - New Opening
Permanent · KILDARE
AMERICAN VINTAGE
Store Manager (M/W) New Opening
Permanent · KILDARE
SHISEIDO
Nars Makeup Artist - Brown Thomas Dublin (15 Hours)
Permanent · Dublin
TK MAXX
10014-Associate
Permanent · Drogheda
LULULEMON
Store Manager | Brown Thomas Cork
Permanent · Cork
LULULEMON
Educator Part-Time | Dundrum
Permanent · Dublin
LULULEMON
Educator Full - Time | Dundrum
Permanent · Dublin
RITUALS
Supervisor - Dundrum (32 Hours)
Permanent · Dublin
RITUALS
Store Manager - Dundrum (40 Hours)
Permanent · Dublin
By
Reuters
Published
Oct 28, 2009
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

TPG sells Debenhams stake to hedge fund

By
Reuters
Published
Oct 28, 2009

By Simon Meads

LONDON (Reuters) - U.S. buyout house TPG sold its stake in Debenhams to an unnamed hedge fund, a source familiar with the situation said on Wednesday 28 October, netting some 100 million pounds.


TPG sold its remaining stake of more than 120 million shares -- some 9 percent of the department store chain's stock -- at 81.6 pence a share, a slight discount to their market price, down 2 percent at 82.65p by 1111 GMT, the source said on Wednesday 28 October.

Some said the sale could be a precursor to a bid for Debenhams.

"A bid for the group currently valued at 1.1 billion pounds looks possible," said Manoj Ladwa, senior trader at ETX Capital. "Though the deal looks good on paper, the question has to be asked where the buyer will come from?"

But one banker said the stake was unlikely to lead to a bid, given the difficulties raising finance in debt markets.

TPG declined to comment.

Debenhams last week bucked the gloomy economic outlook to report profits before tax, goodwill and one-off items up 14 percent to 125.2 million pounds. It has also reduced its weighty debt burden, a throw-back to its private equity-owned days, by almost half over the last year to under 500 million pounds.

Och Ziff, the hedge fund which owns a stake in privately-owned budget fashion retailer Peacocks, has been mooted as a possible buyer in press reports. No-one at Och Ziff was available for comment.

TPG is the second of Debenhams's original private equity backers to fully exit the business, following Merrill Lynch Private Equity. Only CVC retains a small stake in the business.

(Additional reporting by Victoria Howley and Jon Hopkins; Editing by David Holmes)

© Thomson Reuters 2022 All rights reserved.