Barclays Family’s Long-standing Ownership May End in Auction

  • The Very Group appoints Barclays, JP Morgan, and Morgan Stanley for strategic review
  • Potential £2.5bn sale of the ecommerce giant
  • Valuation down from previous £4bn
  • Refinancing also a possibility
  • Carlyle may take control after extending group debt maturity date

The Very Group is set to appoint investment banks Barclays, JP Morgan, and Morgan Stanley to manage a strategic review that could potentially mark the end of the Barclay family’s long-standing ownership. The ecommerce giant, which owns very.co.uk and littlewoods.com, may be valued at around £2.5bn – down from its previous valuation of £4bn. A refinancing of The Very Group, with lenders including global investment giant Carlyle and Abu Dhabi-based IMI, is also a possibility. Former chancellor Nadhim Zahawi was appointed chairman in May, replacing Aidan Barclay from the owning family. In April, the Barclays were advised to lower their expectations on finding a buyer for the retailer. The online department store may face a sale or refinancing to tackle mounting debts.

Factuality Level: 8
Factuality Justification: The article provides relevant information about The Very Group’s strategic review, potential auction, and the involvement of investment banks in managing the process. It also mentions the previous valuation and possible refinancing options. However, it contains some speculation and does not directly address the food-to-go market mentioned at the end.
Noise Level: 6
Noise Justification: The article provides some relevant information about The Very Group’s strategic review and potential sale but also includes speculative details about the valuation and ownership changes that may not be confirmed yet. It also briefly mentions unrelated topics like the food-to-go market without providing a clear connection to the main subject.
Financial Relevance: Yes
Financial Markets Impacted: Yes
Financial Rating Justification: The article discusses the potential sale of The Very Group, an ecommerce giant, which could impact financial markets and companies involved in the transaction. It also mentions a possible refinancing of the company and its valuation. The Very Group’s lenders, such as Carlyle and IMI, are mentioned, indicating financial relevance.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.

Reported publicly: www.retailgazette.co.uk