Thank you for sharing!

Your article was successfully shared with the contacts you provided.

For more retail coverage, click GlobeSt.com/RETAIL.

LONDON-Minerva has put the Allders department stores up for sale for undisclosed sum.Scarlett Retail Group, a consortium led by Minerva and also including Lehman Brothers, bought Allders for about euro 235 million ($316 million) in 2003.

“Minerva Plc and Lehman Brothers Limited, the principal shareholders of Scarlett Retail Group Limited, announce that they have initiated a process for the sale of Scarlett Retail Group Limited, the holding company of Allders Limited [formerly Allders Plc],” Minerva says in a statement. “Expressions of interest have been received from the existing management team and other potential acquirers, although the sale process is at its preliminary stages.”

Minerva said in July it had received a takeover approach for its whole business and at the time industry sources suggested that bids could value the whole of Minerva at about euro 755 million ($1 billion). Minerva shares currently value the business at about euro 684 million ($906.8 million).

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.