Jacques Vert tickled pink by private equity bid
Women's fashion retailer Jacques Vert shot up to a 52-week high after agreeing to a bid from an affiliate of US private investment firm, Sun Capital.
Women's fashion retailer Jacques Vert shot up to a 52-week high after agreeing to a bid from an affiliate of US private investment firm, Sun Capital.
The retailer, which saw its shares dive at the end of November after a profit warning, looks set to go private after its directors agreed to a 21p a share cash offer from Miverva Bidco, a company set up specifically to buy Jacque Vert.
The terms, which have the backing of the Jacques Vert board, value the company at around £41.2m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Irrevocable undertakings to accept the offer have been received from the Jacques Vert directors in respect of shares representing around 1.2% of Jacques Vert's issued ordinary share capital.
Minerva Bidco is a wholly owned subsidiary of Minerva Holdco, which is an affiliate of Sun Capital, the US geared buy-out specialist focused on the retail and clothing sector.
Sun Capital says its industry expertise stems from owning a portfolio of retail and apparel companies, including a total of 19 companies operating in the sector with aggregate revenues of over U.S. $11.5bn per annum.
The shares rose 8.25p to 20.75p on the bid announcement.
--
jh
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Will “Liberation Day” strike again?
Donald Trump’s 90-day tariff pause comes to an end on 9 July. Can we expect further market turmoil?
-
Israel claims victory in the '12-day war' with Iran
Donald Trump may have announced a ceasefire in the 12-day war between Israel and Iran, but what comes next depends on what happens internally in Iran