New Look To Go Private

In a move to go private, high street retailer New Look is to end its stock market listing and will be suspending trading its shares. Founder Tom Singh, who is buying the company by a consortium, will see him hold a 23 per cent stake under the GBP699m deal.

The retailer is to seek a delisting of its shares as a court process to facilitate the buy out has been completed. Aside from Singh's stake, the rest of the equity will be split between New Look's management as well as two venture capital firms, namely Permira and Apax Partners.

Founder Singh has on occasion let it know that he believes the market has undervalued the business. Other UK retailers to have left the stock market over the past 18 months include Arcadia, Allders, Debenhams, Selfridges and Harvey Nichols.