LENDERS are preparing debt financing packages worth around £5bn to support a possible sale of the supermarket chain Wm Morrison to private equity funds, banking sources have told Reuters.
The Morrisons family, which own a 9.5% stake, has approached buyout firms to guage their interest in taking the business private after a difficult Christmas trading period.
In January, the retailer issued a profit warning and has struggled to keep up with its competitors because of previously operating without an online offering.
“The size of the transaction, which could get as high as £10bn, could require a number of private equity players to team up, given the size of the equity cheque needed,” a senior leveraged loan banker told Reuters.
Morrisons declined to comment.
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