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Sovereign Wealth Funds Briefing - Categorized | Market

M&S in spotlight on report of Qatari bid interest

Posted on 18 March 2013

Marks & Spencer was at the centre of fresh bid speculation on Sunday, with takeover talk resurfacing after a year of weak trading and a flat share price. According to The Sunday Times, the Qatar Investment Authority, the Gulf state’s sovereign wealth fund, wants to assemble a consortium to mount an 8 billion pounds takeover of Britain’s biggest clothing retailer, which also sells homewares and food.
The newspaper cited senior City sources as saying the QIA, which is already a 26 percent shareholder in Britain’s No. 3 grocer J Sainsbury, has approached several large private equity houses, including CVC Capital Partners, to gauge their interest in participating, and has spoken to lenders about financing an offer………………………………………..Full Article: Source


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