ISTANBUL, Sept 28 (Reuters) - U.S. private equity firm Carlyle Group is looking to sell its 30 percent stake in Turkish lingerie and swimwear retailer Penti and has mandated Goldman Sachs to advise on the deal, three people familiar with the matter said.
Penti’s founders, who retained 70 percent of the company after Carlyle bought its stake in 2012, are also looking to sell down their holding and have also mandated Goldman Sachs as adviser, two of the people said.
Penti, which has more than 400 stores and a presence in some 30 countries, sells hosiery, swimsuits and lingerie. The company said it was not considering a share sale, but confirmed it had mandated Goldman Sachs and London-based Dome Group to advise on investment opportunities.
“As of today, Penti has not taken any decision on an acquisition, stake sale, merger or a decision to initiate these processes,” it said. “However, the company mandated Goldman Sachs and Dome Group to research market conditions and evaluate possible investment opportunities.”
A spokesman for Carlyle declined to comment, as did a Goldman Sachs spokesman.
While the due diligence has not yet started, private equity firms Turkven and Actera have both expressed interest in a potential acquisition, two of the sources said.
Turkven and Actera were not immediately available for comment.
Carlyle’s 30 percent stake in Penti was worth around $100 million at the time of the transaction in 2012, according to a separate source familiar with that deal.
Penti had revenue of 600 million lira ($168 million) and earnings before interest, tax, depreciation and amortisation (EBITDA) of 95 million lira, and is expected to reach 700 million lira of revenue this year, the source said. ($1 = 3.5671 liras) (Writing by Ezgi Erkoyun; Editing by David Dolan)