Jimmy Choo’s potential bidders thought to include Coach, Michael Kors, Investcorp, Mayhoola - reports
02 JUN 2017
Potential bidders for the UK-based luxury shoe company Jimmy Choo [LON:CHOO] are believed to include the New York City-based fashion companies Michael Kors [NYSE:KORS] and Coach [NYSE:COH] and the Bahrain-based investment firm Investcorp, The Daily Mail reported. The newspaper did not cite a source for the information.
It is thought that investors from China, Russia and the Middle East will also be interested in Jimmy Choo, the report said.
A brief item in The Daily Telegraph listed the same companies and the Qatar-based investment firm Mayhoola as potential bidders for Jimmy Choo. The newspaper cited unspecified reports for the information.
Both reports said initial offers for Jimmy Choo are expected this month.
Jimmy Choo issued a trading update on Thursday, 1 June, but did not give further details on the sale process, the item said.
Jimmy Choo’s share price closed 2.5p up at 200.0p at the close of trading in London on Thursday, 1 June, giving the company a market capitalisation of GBP 779m (EUR 894m).
Background:
Jimmy Choo’s majority shareholder JAB Holdings hired the investment banks Citi and Bank of America Merrill Lynch in April to advise on a sale process for the shoe manufacturer, as previously reported.
Jimmy Choo’s majority shareholder JAB Holdings hired the investment banks Citi and Bank of America Merrill Lynch in April to advise on a sale process for the shoe manufacturer, as previously reported.
Link to original source (Daily Mail)
The Daily Telegraph report appeared on page 5 of the newspaper’s Business section on Friday, 2 June.