LONDON (ShareCast) - Bridgepoint, the private equity owner of Pets At Home, is said to have held preliminary talks with banks about a £700m flotation of the UK's biggest pet products retailer.
The Sunday 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 to £39.9m in the last financial year.
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