LONDON (AFX) - Richard Charnock, the chief executive of Williams de Broe, has held talks with a number of private equity groups about a management buyout of the City stockbroker in an attempt to head off a sale to a trade buyer, according to an unsourced article on the Sunday Telegraph.
Charnock is understood to be talking to Alchemy Partners and a number of other private equity firms about securing funding for an MBO, it said.
WdeB has been lined up for sale by its parent ING with an estimated price tag of 30-40 mln stg. Evolution, the rival brokerage, and Kaupthing and Landsbanki, the Icelandic banks, are among those believed to have registered an interest, the article said. monicca.egoy@afxnews.com mbe/hjp COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited