The Good Guys are serious about an IPO

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Retailer The Good Guys is planning an IPO as buyers reveal their interest in the home appliances chain.

The company said today it had appointed Credit Suisse, Goldman Sachs and UBS as joint lead Managers to support a planned listing on the ASX.

The move comes as its competitors look at making a direct offer for the family-owned business.

Both Electronics retailer JB Hi-Fi and home wares chain Harvey Norman last week said they were interested in a trade sale, depending on the price.

JB Hi-Fi said it was negotiating to buy The Good Guys. Such a combination would create a business of nearly $6 billion a year in sales.

Harvey Norman, on hearing about the negotiations, said it was also interested as long as the competition watchdog, the ACCC, approved.

Today The Good Guys left open the possibility of a trade sale. “The Good Guys will also consider any alternate ownership proposals that emerge,” the company said.

The company has annual sales of $2 billion and is in a leading market position in multiple categories including white goods, cooking, small kitchen appliances and home entertainment.

The Good Guys operates 100 large-format stores across metropolitan and regional Australia.

Last year, The Good Guys was reported to be asking $1.5 billion for its business.

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