Liberty confirms takeover approaches
12 March 2010 09:47
Liberty has confirmed press speculation that it has received approaches which may or may not lead to an offer being made for the company.
The board said that, at this stage, it was too early to say whether these discussions would lead to a formal offer.
It added that, over the past six months, Liberty had been examining and assessing a range of options and initiatives including seeking investors who could bring capital and expertise to help develop and grow the business "both within the UK and internationally".
Reports have suggested that Marco Capello, former MD of Merrill Lynch Global Private Equity, is close to buying Liberty through his investment fund BlueGem Capital Partners.
At the time of its trading statement in January, the company said overall revenue for the year to December 2009 grew by 20% and that the flagship store generated a 16% revenue increase during the course of 2009 compared to the previous year. All divisions increased revenue with the online sales platform enjoying a particularly strong Christmas.
Trading has continued to benefit from the "renaissance" of its Regent Street flagship store, which drove footfall and market share over the remainder of the year and has continued during 2010 to date.
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