New Look founder in talks over takeover
Tom Singh talking to venture capitalist
August 18 2003
New Look founder Tom Singh is in talks with venture capitalist Apax Partners about making a bid for the high street chain, according to reports.
Singh is said to have been in talks with Apax for some weeks, with other venture capitalists also discussing providing equity to back the buyout.
Singh, the major shareholder in New Look, said earlier this month that he was in preliminary discussions with potential providers of finance.
Singh has appointed investment bank Deutsche Bank to review options for his family’s stake.
The Daily Telegraph reports that chief executive Stephen Sunnucks and other New Look senior management will wait to see the terms of any offer by Singh before deciding whether to be involved in a buyout for the company.