Retail Sector Opportunities Abound

On June 23, US retailer Office Depot agreed to sell US$250mn worth of preference shares to private equity firm BC Partners, which could convert into a stake of more than 20%. The deal will strengthen Office Depot's balance sheet after it has been hit by the drop in consumer spending. For BC Partners it is their first US deal since they opened a New York office in 2007 and the first time the buyout firm has acquired a minority holding in a publicly listed company.

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