Britain’s fourth largest supermarket chain has confirmed the sale of its Kiddicare business for Endless Capital, a private equity group, for £2m – just three years after it bought it for £70m.
Morrisons, a grocery giant based in Yorkshire, purchased the baby products retailer in 2011 in an effort to expand its presence online. After striking a £216m online shopping deal with Ocado, the company announced in March that Kiddicare no longer fit with its strategy and accepted a £163m writedown on the loss-making business.
Morrisons has retained the liabilities for ten Kiddicare store leases.
A total of US$4.88 trillion of debt has been sold so far this year reports Dealogic, close to the level of 2007 when US$4.91 trillion of bonds were issued over the same period.
The German industrial gases group has ended talks with its US peer on a potential union to establish a market leader.
The US exchange said it will introduce incentives from next month to make lower-volume exchange traded funds easier to buy and sell.
A survey of 1,000 merger and acquisition dealmakers finds that seven in 10 expect Brexit uncertainty to limit the number of deals.