Agent Provocateur potential bidders include Lion Capital, Etam, Endless
Agent Provocateur, a UK-based lingerie retailer, has attracted takeover interest from the private equity firm Lion Capital, the investment firm Endless LLP and the French fashion retailer Etam Developpement [EPA:TAM], Sky News reported on Friday, 10 February. The report did not cite a source for the information.
There are about three potential bidders remaining in the auction of Agent Provocateur, the item said. The retailer has been put up for sale by its owner, the buyout group 3i [LON:III].
The deadline for offers was on Friday and the auction is expected to be concluded within days, the article said. 3i is looking to secure a sale price of more than GBP 30m (EUR 35.2m) for Agent Provocateur, according to the report.
Some insiders cited by the report think Agent Provocateur could be sold via a pre-pack administration, which would protect the company from its creditors.
Lion Capital would not comment, the item said.
Background:
The Financial Times reported on 3 January that 3i had hired the investment bank Rothschild to advise on a potential sale process for Agent Provocateur and that Alix Partners was advising 3i on options to improve the retailer’s performance.