BlueGem to acquire Liberty
London-based private equity operator BlueGem is in the process of presenting an offer for the acquisition of an 86.3% stake luxury department store Liberty, according to market rumours.
BlueGem, which has been in talks with the high street retailer since mid-March, offered 141.8 pence per share, plus a special dividend of 44.2 pence per share, for a total price of 186 pence per share. The deal would see the company valued at £41.5m
Reports suggest MWB Holdings, which controls 68.3% of Liberty, has accepted BlueGem’s offer. The deal is expected to close in a few weeks' time.
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