Private equity firm approaching major Aussie retailer with buyout plan

by |
A private equity group has made preliminary approaches to a major Australian retailer in an effort to buy out one of its store chains.

Blackstone Group, KKR & Co. and TPG Capital have made preliminary approaches to Woolworths to express interest in Big W, according to a Bloomberg report.

The Big W chain could be valued at around $1.5bn, Bloomberg claimed. The report said discussions on the buyout may not begin in earnest until a replacement is found for departing CEO Grant O'Brien, who announced his retirement plans in June.

Shares in Woolworths have dropped 13% this year, but were up at the market's opening on Friday.

WP forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Name (required)
Comment (required)
By submitting, I agree to the Terms & Conditions