LONDON (dpa-AFX) - Private equity firm 3i (III.L) is preparing Hobbs for a sale in a deal that could value the business at up to 250 million pounds, the Sunday Telegraph reported.
3i and Hobbs' management are reportedly set to appoint advisers from PricewaterhouseCoopers. According to the report, PricewaterhouseCoopers has indicated to Hobbs that any takeover could value the business at between 200 million pounds and 250 million pounds.
Once 3i and Hobbs are satisfied with expansion and financial performance, they will pull the trigger on a sale process, the report added.
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