PRESS DIGEST – British Business Press – March 13

Daily Telegraph

LIBERTY DEPARTMENT STORE RECEIVES TAKEOVER APPROACH

Liberty (LIBE.L: ), the London department store, is in talks
with private equity and real estate investors about a takeover
that could value the retail business at more than 35 million
pounds. BlueGen Capital, the private equity firm headed by
former Merrill Lynch banker Marco Capello, is thought to be the
front-runner. Richard Balfour-Lynn, chief executive of Liberty’s
controlling shareholder MWB Group (MWB.L: ), said that he was
pleased by the interest of investors, which he attributed to
Liberty’s recent good fortunes.

PROMETHEAN HELPS FAN EMBERS OF FLOAT REVIVAL

Almost one billion pounds was added to the value of the
London Stock Exchange (LSE.L: ) with the flotations of Promethean
(PRWP.L: ), the education business, and SuperGroup, the group
behind the fashion brand Superdry. Promethean launched at 200
pence per share, valuing the company at 400 million pounds,
while SuperGroup debuted at 500 pence per share, valuing it at
395 million pounds. Proceeds from Promethean’s IPO will be used
to repay debt. Analysts expect the company’s top line growth to
rise 20 per cent for the next three years.

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PRESS DIGEST – British Business Press – March 13