Liberty on sale for £300m as shareholders eye up bidders

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Liberty London
// Liberty has reportedly been put up for sale for £300m
// BlueGem Capital Partners bought Liberty for £40m in 2010

Liberty London has reportedly been put up for sale for £300 million by its largest shareholders, nearly 10 years after the luxury department store last changed ownership.

Private equity firm BlueGem Capital Partners bought Liberty for £40 million in 2010, and is now said to have asked UBS to inquire on potential bidders, Sky News reports.

According to Companies House’s recent report from Liberty’s holding company Liberty Zeta, the 53-week period to February 3 showed profits of £21 million compared to the £19.9 million in the previous year.

Meanwhile, Liberty hired Adil Mehboob-Khan as chief executive in February 2018.

BlueGem also has stakes in retailers Jack Wills and Mamas & Papas, and has not commented on the size of its current Liberty stake or about the talks with prospective bidders.

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