Dick Smith float flagged: report

Private equity group Anchorage Capital Partners has tasked Goldman Sachs and Macquarie Group Ltd with exploring a number of options including a trade sale and stockmarket listing for electronics retailer Dick Smith, The Australian reports.

According to the newspaper, Anchorage is considering a sale less than 12 months after buying the retailer from Woolworths for just $20 million and turning the group's earnings around.

The private equity firm paid the supermarket chain an extra $74 million this year to buy its way out of a deal where Woolworths would have collected a proportion of sale proceeds, according to The Australian.

Dick Smith recently struck an exclusive co-branding deal to run David Jones Ltd's electronics business.

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No one in their right mind would buy any shares in a potential Dick Smith float, the business is floundering, don't be a mug. Private equity bought into it and are now trying to off load it to other m mugs.
I agree with Stephen lastName. I wouldn't touch it with a pole vault. People have surely woken up to Private Equity firms trying a flog a dead horse for a quick buck.
I agree with Steve. He wouldn't touch them with a pole vault. I wouldn't touch them with a barge pole. Maybe those who bought Myers shares will line up. Hahahahaha
Hey Maybe Myer will buy it. LOL Personally I think this is a reasonable business that had terrible terrible management. (Do have some authority on this) and was actually the sort of business that private equity could fix.
Most of the businesses that go through private equity hands are good businesses. But poor management, boards that don't understand the industry or the business, the bonus gravy train and old boys club, leave the shareholders up the creek with shares no use a a paddle. Look at Myer floated and still not performing, no change of CEO, or directors, poor shareholders.
Private equity bought it for basically $94 million and now they want to off load it for $500 million through a possible float. please only a d_head would buy shares in the float.