All Saints in investment talks
By FashionUnited
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All Saints is looking to raise £50m in capital for expansion. The British brand, which counts London Spitalfields as its home, is to thought to be in talks with New York-based hedge fund Och Ziff.The terms of any investment have not been published, but All
Saints has been looking to raise about £50m, according to a report published in the Financial Times.The
A deadline for full and final bids passed on Friday and the retailer’s board met to consider the three submitted offers, the article stated. A spokesman for All Saints declined to comment. Och Ziff, which has $28.7bn (£17.7bn) in assets under management, also declined to comment.
The bids have been submitted as part of a process to dispose of the stakes of two of the retailer’s shareholders, the Icelandic banks Kaupthing and Glitnir, both of which collapsed during the banking crisis in 2008. Ernst & Young has been hired to find potential buyers for the stakes.
Och Ziff has made other investments in UK retailers. It has 25 per cent in discount retailer Peacocks.
Image: All Saints Source: FT©