Thursday, October 19, 2017

Goldman Sachs primed for The Body Shop bid

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The competition to acquire the Body Shop has entered a new chapter after a Chinese healthcare company entered the ring of possible bidders.

Investment banking giant Goldman Sachs is poised to submit a £600 million bid for the ailing cosmetics retailer The Body Shop.

According to Sky News, the merchant banking arm of Goldman Sachs is considering making a bid after L‘Oreal put the retailer on the market last month, valuing it significantly below the £850 million asking price.

Sources have stated that the initial price tag was “wildly optimistic” despite numerous investors like Advent International, Apax Partners, CVC Capital Partners and Carlyle showing interest.

Its sale follows a difficult period for the retailer since L‘Oreal purchased it in 2006 for £650 million.

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