New Look owners see £350m bonus

The Owners of New Look are to enjoy a £350m windfall, lengthening the odds on the company's imminent return to the stock market. Apax Partners and Permira along with Tom Singh, the company's founder have enlisted Goldman Sachs to explore a refinancing of the business. Sources close to the situation said the probable refinancing would consist of a payment in kind note that would allow the investors to cash out part of their stakes in the company.