The owners of Shop Direct are reportedly seeking a £3bn price tag for the online department store, with potential buyers already lined up.
The online department store, which is owned by the Barclay brothers and operates e-tail stores Very and Littlewoods, has attracted the attention of a number of private equity firms, reports Sky News.
Interested parties, including Advent International, Bain Capital, BC Partners and Cinven are expected to begin talks with the brothers in the coming weeks.
Investment bank UBS is understood to be leading the sale process and overseeing discussions between the retailer and a number of private equity firms.
According to Sky News, the Barclay brothers, who also own the Telegraph newspaper titles, are keen to secure bids which reflect an enterprise value – Shop Direct’s equity and debt – of well over £3bn.
Shop Direct, which is run by chief executive Alex Baldock, has roughly £1bn of debt, meaning its shares would be worth more than £2bn under the Barclays’ plans.