Here in the Corporate team at LS we get very excited when we see reports that one of our favourite businesses may be up for sale. I’m certain that I am not the only one who finds herself (or himself!) day dreaming of the purple and gold branding…often assisted by online deliveries to my desk!
Sorry, I digress. It has been widely reported that the main shareholder in Liberty London has appointed bankers to test the market on the sale of their stake. What isn’t clear at this stage is whether any of the other shareholders may wish to “tag along” (slight pun there for anyone interested in company articles of association). Reports indicate that the stake which is definitely up for grabs is around a 40% shareholding.
As this is a private equity seller, we may not see many more transaction details reported but we will certainly be listening out for any. In a market that has recently been a focus of concern, particularly around the relevance of brick-and-mortar retail, our spirits are lifted to see the potential sale of one of the icons of London retail. With Liberty’s focus on in-store experience and diversifying income-streams, we are certain this will be a deal to keep our eyes on!
The owners of department store Liberty London are reportedly exploring a sale of the business.