Cortefiel draws interest from Centerbrige Partners

By

Elena Campos Valladares

Published
Nov 23, 2015

The third largest retail group in Spain, which is currently looking for a buyer, has caught the eye of Centerbridge partners, informed the Spanish newspaper El Economista on Monday. Although the private investment firm focuses on other sectors, the interest in Cortefiel responds to the US-based private equity group's pursuit to diversify its investment portfolio in Europe.
 

Goldman Sachs, which was commissioned by CVC, Permira, and Pai earlier this year to seek a buyer for the fashion group, has already held talks with potential investors. 

Cortefiel could have new owners by 2016, if an agreement is reached. According to sources, the sale price would stand at 1,300 million euros, and the part owners CVC and Pai Partners would not sell for less.

The private equity fund Permira, on the other hand, is set to dispose a large part of its Spanish assets and is looking to sell its share as soon as possible.