Business Services Industry
With Legal Battles Settled, Icelandic Retailer Baugur Looks to Expand.
Knight Ridder/Tribune Business News, September, 2003
Daily Mail, London Knight Ridder/Tribune Business News
Sep. 5--Icelandic retailer Baugur is trying to raise funds for new acquisitions after settling an embarrassing array of legal disputes.
The firm, which recently bought Hamleys toy store, has a UKpound 100 million war chest. It has been doing the rounds of City bankers to see whether they have the appetite to back a deal.
Chief executive Jon Asgeir Johannesson has his eye on a handful of companies, including House of Fraser, Somerfield, Big Food Group and Mothercare.
He might bid on his own or join forces with entrepreneurs such as Tom Hunter. Royal Bank of Scotland, which helped fund the UKpound 59 million purchase of Hamleys, appears keen to provide debt funding.
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