According to reports, Pepkor Europe has been speaking to advisors and bankers about a possible float or sale which would value the discount retailer Poundland at around €4b.
The owner of Poundland is gearing up for a sale or stock market float which could see it valued at up to £3.7b (€4b). According to reports, Pepkor Europe has held meetings with legal advisers and will sound out bankers next month to explore a float or sale.
Citing sources, The Times said the business has recently refinanced its high-interest debts and moved to untangle itself from Steinhoff – its scandal-ridden parent company. Should a sale or IPO materialise, Pepkor Europe is expected to be valued at around €4b and would likely attract significant interest from private equity firms.
Poundland was previously listed on the London Stock Exchange before being taken out by South African retailer Steinhoff for £610m in 2016. Steinhoff then combined Poundland with its other discount chain Pepkor and Pep & Co, its growing fashion brand, to create Pepkor Europe.