Liberty, the 135-year-old London department store, is revealed to be in takeover talks with Marco Capello, the former managing director of Merrill Lynch Global Private Equity, in an acquisition deal worth over £40m.
The retailer's shares registered a rise 7 per cent to 275p on the news, valuing it at £68.5m.
Liberty's confirmed that is close to being acquired to be via his investment fund BlueGem Capital Partners after months of speculations about the company.
Earlier this month revealed to consider the sale of the freehold of its 125,000 sq ft mock Tudor building on Great Marlborough Street.
The fashion industry magazine Drapers have posed the luxury investor Robert Bensoussan and the global supplier Li & Fung are among one of those to express an interest in bidding for Liberty,
Liberty has now extended a formal confirmation on the possible sale and leaseback of its department store, situated off London's Regent Street; however, yesterday did not give any update.
Liberty's sales witnessed a rise by a fifth in 2009. However, analysts at Seymour Pierce estimated a pre-tax loss of £3.8m for last year, which is then forecast to slip to £1.1m in 2010.