American investment group Sycamore Partners is in talks on taking over Dutch lingerie chain Hunkemöller, the Telegraaf says on Monday, quoting sources close to the talks.
A takeover price of €440m is circulating but Sycamore will have to contend with other potential bidders, including the Carlyle Group, the paper says.
Hunkemöller is currently owned by PAI Partners who bought it in 2010 for €265m from the Maxeda Retail Group.
Hunkemöller was founded 130 years ago when Wilhelm Anton Caspar Hunkemöller and his wife Josephina Lexis began producing corsets in Amsterdam. According to the Telegraaf, the company is now one of the biggest lingerie specialists in Europe, with 600 shops in 16 countries, including Saudi Arabia, Morocco, Egypt and Bahrein.
The company was unavailable for comment, the Telegraaf says.
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