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 £1.8bn 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.
Deal includes three manufacturing facilities located in Spain, which employ around 140 staff
GP acquired the care home group from Swiss Prime Site and will be the company's sole shareholder
Iris, Idinvest and historical backers invest in the manager of the eponymous social media app
GP uses its Mérieux Participations 3 fund, which held a first close on €200m in 2018