Icelandic investment company FL Group confirmed on Tuesday that it is a part of a consortium led by Baugur with a view to making an offer for House of Fraser.
"Further to recent press speculation, Baugur Group HF confirms it is in advanced discussions with the Board of House of Fraser PLC with a view to making a cash offer for all the issued and to be issued share capital of House of Fraser at 148 p per share,"Baugur said.
"Baugur confirms that the members of the Consortium are Baugur (through its wholly-owned subsidiary, BG Holding ehf) and its investment partners, Don McCarthy, FL Group hf, West Coast Capital (through its wholly-owned subsidiary, TBH Trading Limited), Kevin Stanford, The Governor and Company of Bank of Scotland (through its wholly-owned subsidiary, Uberior Investment plc) and Stefan Cassar."
"There can be no certainty that an offer will be forthcoming. A further announcement will be made as and when appropriate," Baugur said.
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