Very Group Offered On N Brown Prior To Investor Buyout

The Very Group is understood to have offered on the fashion retailer N Brown business, prior to its purchase by one of its investors.

N Brown accepted a bid of 40 pence a share from Joshua Alliance, a shareholder and member of the Alliance family which owned a controlling stake in the business. The deal - which was recommended by the N Brown board - is worth £191m. The value of The Very Group's offer was believed to be lower than that of Alliance.

Earlier this month, Sky News reported that The Very Group board - chaired by Nadhim Zahawi, who recently replaced Aidan Barclay, a senior member of the family which owns the business - has been discussing a potential sale, estimated at around £2bn. 

Source : Insight DIY

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