Alchemy Eyes Bauger Assets

Jon Moulton has added his firm Alchemy Partners to the list of potential buyers of assets belonging to Icelandic investment group Baugur, which has entered a ‘moratorium’ period.

“We have been reported as looking at some of those assets and we are looking at those assets,” Moulton told Reuters at the Super Return conference in Berlin, adding that the assets ranged from the “quite nice and quite large to the really pretty horrible and quite tiny”.

Moulton did not elaborate, although he distanced his firm from House of Fraser, noting that the company’s debt trades at a significant discount to face value. “It’s quite highly geared and has to be having quite a hard time of it right now,” he said.

Source: Thomson Merger News