UK - Apax and Permira will recap New Look if sale doesn't go through

The sale of Apax and Permira-portfolio company New Look is still on track, according to reports. Merrill Lynch is running an auction to facilitate the disposal with TPG and Warburg Pincus bidding together against BC Partners. A price tag of approximately ТЃ1.8bn is anticipated. However, if the sale does not go according to plan it is understood that the investors will recapitalise New Look for a third time in three years.