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New Look talks over takeover

By FashionUnited

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According to reports New Look founder Tom Singh is in talks with venture capitalist Apax Partners about making a bid for the high street chain. Singh is said to have been talking with Apax for some time. Other venture capitalists zre also discussing providing equity to back the buyout. Singh, the major shareholder in New Look, said earlier this month that he was in preliminary discussions with potential providers of finance. Singh has appointed investment bank Deutsche Bank to review options for his family's stake.

The Daily Telegraph reports that chief executive Stephen Sunnucks and other New Look senior management will wait to see the terms of any offer by Singh before deciding whether to be involved in a buyout for the company.

New Look