Green has been in talks with the retail investor since Friday. The Arcadia boss, whose portfolio includes TopShop, Dorothy Perkins and Miss Selfridge, is looking to buy a chunk (possibly all) of Baugur’s debt, valued at over £1bn. Rumour has it that Green is using his own cash, rather than private equity, to finance the deal. He spoke to Reuters yesterday about the ongoing process: “I need to do some more work,” he said. The British billionaire retorted, when questioned over whether he was trying to acquire the entire business and not just its debt: “It’s one and the same thing.” Baugur’s presence on the high street is significant. The firm owns Jane Norman, Whistles, with 49 per cent stakes in Karen Millen and Oasis. Perfect for Green, who already holds a 12 per cent market share of the UK clothing retail sector. Green and Baugur chairman Jón Asgeir Jóhannesson are already well acquainted: Baugur owns the TopShop franchise in Iceland. All that remains to be seen is whether their long-term friendship will give Green the edge over fellow scavenger and retail boss, Iceland-founder Malcolm Walker. Related articlesStop press: Sir Alan Sugar’s bought into WooliesWoolworths rejects bid from Iceland entrepreneurRetailers vs landlords. It’s war
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.