In­dian re­tail gi­ant eyes Deben­hams

The Daily Telegraph - Business - - Business -

◆ Mukesh Am­bani, one of In­dia’s wealth­i­est men, is eye­ing strug­gling Deben­hams, writes Laura Onita.

His busi­ness, Reliance Re­tail, In­dia’s largest re­tail em­pire, which bought the toy store Ham­leys, could buy part or all of the depart­ment store chain. A for­mal bid has not been tabled yet, Sky News first re­ported.

Deben­hams fell into ad­min­is­tra­tion in April, with in­vest­ment bankers at Lazard try­ing to find bid­ders for the busi­ness. Deben­hams’ Dan­ish sub­sidiary Ma­gasin du Nord is also up for sale.

Deben­hams was delisted from the Lon­don Stock Ex­change af­ter its ad­min­is­tra­tion in 2019, when len­ders led by US firm Sil­ver­point Cap­i­tal took con­trol of the busi­ness.

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