Liberty London is being sold with a price tag of £300m, new reports suggest.
According to Sky News, the famous department store looks set to change hands for the first time in nearly a decade.
The organisation reports that BlueGem Capital Partners, Liberty’s largest shareholders, have asked investment bank UBS to explore a potential sale and look for prospective bidders for the business.
Private equity firm BlueGem is also reported to have given the landmark destination and its sister companies a price tag of more than £300m.
However, one source has revealed that it could sell for as much as £350m.
The last time the department store went on sale was in 2010 when it was bought by BlueGem for just over £40m.
Before that, it was owned by MWB Holdings, the hotel group that owns the Malmaison chain.
Founded in 1875 by Arthur Lasenby Liberty, the heritage British brand has since become renowned for its specialist fabric prints, instantly recognisable purple carrier bags, floral displays and Tudor-revival building.
The Independent has contacted Liberty for comment.
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