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Published
Nov 17, 2010
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Buyout firms plan bids for Germany's Takko-sources

By
Reuters
Published
Nov 17, 2010

LONDON/FRANKFURT, Nov 17 (Reuters) - At least three private equity firms are expected to place first round offers this week for leading German budget fashion retailer Takko, people familiar with the matter said.

Takko Fashion
Takko

Apax Partners, EQT and TPG [TPG.UL] are readying bids for the business, owned by rival buyout firm Advent International, two of the people said. An initial public offering is also under consideration, a third source said.

Bankers said discount retailers were typically valued at 10 times earnings before interest, tax, depreciation and amortisation (EBITDA), valuing Takko at about 1.25 billion euros ($1.75 billion).

Takko declined to comment. The private equity firms declined to comment or had no immediate comment.

(Reporting by Victoria Howley, Quentin Webb and Simon Meads in London and Arno Schuetze in Frankfurt; editing by Steve Slater)

($1=.7158 Euro)

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