Kesa chiefs are expected to decide within a few days whether to proceed with a sale of electricals retailer Comet, following the submission of second-round bids today.
Although the retailer has not committed itself to a firm decision-making timetable, the City anticipates news imminently because Kesa holds its AGM and trading updates on Thursday, September 15.
Observers believe that if the sale route is chosen then the retailer is likely to want to circulate details of the proposal ahead of the meeting. Kesa declined to comment.
Private equity house OpCapita and restructuring specialist Hilco are expected to table second-round offers, but it is likely that a dowry of about £100m would be sought.
Kesa will weigh offers received against potential returns to be made from its turnaround plan, and may choose to retain the 249-store chain.
At the time of writing, Kesa’s shares – down 31% in the last three months – showed little movement, indicating the possibility that no deal may be done.
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