Thursday, July 27, 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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