Australian female exercise clothing retailer Lorna Jane is up for sale, with a reported price tag of about $500 million.
The Australian Financial Review reports the chain is up for auction, appointing Credit Suisse bankers to negotiate a deal.
The news means the private equity firm CHAMP which holds a 40 per cent stake in the company and founder Lorna Jane Clarkson’s plans for an IPO will probably be shelved.
There’s more here.
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