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Qatar approaches CVC, other buyout giants to back £8bn M&S bid

18 Mar 2013

Marks and SpencerCVC Capital Partners has reportedly been approached by Gulf sovereign wealth giant the Qatar Investment Authority to take part in an £8bn buyout of British retailer Marks & Spencer.

QIA has approached several other large buyout houses and has already spoken to lender about financing an offer according to the Sunday Times, which cited senior City source.

The iconic high street favourite is the biggest clothing retailer in the UK, with about 21 million customers each week according to the company’s website.

Marks, which also sells homeware and food products, has been linked with a private equity buyout before, with Apax Partners reportedly considering a bid for the business in September 2011.

Last month it emerged Qatar’s $115bn sovereign wealth fund was planning to launch a new $12bn investment firm in a continued bid to diversify its phenomenal gas wealth.

Hussain al-Abdullah, vice chairman of the state fund’s investment arm Qatar Holding, told reporters in Doha that the new firm would be listed on the city’s stock exchange in six to eight weeks, according to Reuters.

He said, “You name it – shares, bonds, real estate, private equity. We will look at every sector in every country around the world.”

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