British Land is in talks with venture capitalists CVC Capital Partners and Texas Pacific Group over buying Debenhams’ freehold property if their offer for the group is successful.
It emerged this week that the organisations have held early stage discussions about a possible sale-and-leaseback of £350m of freeholds to fund a bid for the department store.
The talks, which have been kept secret until now, represent the first sign that CVC and Texas Pacific are considering raising part of the £1.66bn offered to buy the chain on the back of its property.
References: Property Week 26/09/03 page 1
