LONDON (ShareCast) - It emerged this week that the UK's biggest pet products retailer, Pets At Home, may float in London as its private equity owner Bridgepoint is said to have held preliminary talks with banks about a £700m flotation
of the UK's biggest pet products retailer.
The Times reported that Bridgepoint has held talks with Goldman Sachs (NYSE: GS - news) , JP Morgan Cazenove, NM Rothschild and Bank of America Merrill Lynch in the past two weeks about the possible timing and valuation for a float.
However, no final decision has yet been made on whether the group will float or sell the business, according to the paper.
A float could trigger a windfall for its owners, who bought the pet products chain for £230m in 2004.
Pets at Home's pre-tax profits were up 29% to £39.9m in the last financial year.
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