LONDON (Alliance News) - 3i Group PLC has begun to sound out investment banks over the sale of upmarket lingerie chain Agent Provocateur, Sky News reported on Thursday, citing insiders.
The sale could value the business at more than GBP200.0 million, the report said.
According to the report, insiders said that 3i was likely to appoint an investment bank in the coming days to oversee a sale by auction. However, a sale is unlikely to occur until next year, they said.
Sky News said the insiders also denied that other private equity firms had already been approached over a potential deal.
3i declined to comment on the report.
http://news.sky.com/story/1310685/agent-provocateur-dressed-up-for-200m-sale
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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3i Group (III)