(Alliance News) - Electra Private Equity PLC confirmed Friday it is in talks with investment bank Stifel Nicolaus Europe to realise its investment in online retailer Hotter Shoes.
Shares in the private equity investor were 11% higher in London on Friday at 229.58 pence each.
"The timing of the launch of any sales process will be determined over the coming months as trading patterns normalise in Hotter's new business model focussed on direct-to-consumer channels predominantly in the UK and US," Electra said.
In late August, investment trust Electra noted the challenge period following approval of the company voluntary arrangement of Hotter Shoes had passed.
By Paul McGowan; paulmcgowan@alliancenews.com
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