Sponsored by Digital Look Events

Dreams eyes float or sale

News for Spread Betters

PreviousPrevious
NextNext

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Monday 03 Mar 2008

LONDON (ShareCast) - Mike Clare, founder of Dreams, is mulling a sale or stock market flotation for the beds retailer.

Clare, who started the company in the mid-1980s, is said to be looking at a stock market listing that could value the group at up to £500m, according to the Independent on Sunday.

Meanwhile, the Sunday Telegraph reported that the company is on the verge of agreeing a £200m deal with private equity firm Exponent.

Clare told the paper that no deal had yet been agreed and that three potential buyers remained in the frame. “I might decide not to sell at all,” he added. Other bidders are said to include Change Capital Partners and Hg Capital.

Former Dixons chief executive John Clare, who is no relation, is understood to become the group's chairman once any deal is completed.

A potential deal could be agreed ahead of the proposed changes to the Capital Gains Tax regime in April, which would cut the sum that Clare could bank from the deal.

Dreams, which has its head quarters in High Wycombe, operates more than 170 stores across Britain.