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BRIEF-Brait SE to buy about 90 pct of New Look Retail for about 780 mln stg
May 15, 2015 / 5:17 AM / 3 years ago

BRIEF-Brait SE to buy about 90 pct of New Look Retail for about 780 mln stg

May 15 (Reuters) - Brait Se

* Brait Mauritius Limited, has entered into an agreement to acquire a c.90 pct interest in New Look Retail Group Limited for c.gbp780 million

* Deal primarily from funds advised by Permira and APAX

* Acquisition values new look at an enterprise value of c.gbp 1.9 billion

* New look has net financial debt of c.gbp 1 billion

* New Look reported revenue of gbp1.392 billion and EBITDA of gbp204 million for financial year ended March 2014

* Founder’s family interests and existing management team will be reinvesting alongside Brait for c.10 pct shareholding

* Completion date for acquisition is 25 June 2015. Source text for Eikon: Further company coverage:

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