One of Britain’s wealthiest businessmen is assembling a £300m takeover bid for Homebase, the DIY chain revived from the brink of collapse just three years ago. Sky News has learnt that Hugh Osmond, who is spearheading a legal challenge to the government’s coronavirus restrictions on the hospitality sector, is among a number of parties vying to buy the retailer. City sources said this weekend that the entrepreneur’s investment vehicle, Osmond Capital, had emerged as a serious bidder for Homebase, which is owned by Hilco Capital. Mr Osmond is not thought to be in exclusive talks to buy the chain, although the identity of other bidders was unclear this weekend. Hilco is also said to have weighed a stock market flotation of the business. Advertisement A £300m sale would represent a remarkable result for Hilco, which bought Homebase for a nominal sum in 2018 after a disastrous spell under the ownership of Wesfarmers, an Australian group. Hilco, which has also owned retailers including HMV in recent years, hired Lazard, the investment bank, to sell Homebase last November as it sought to capitalise on a boom in sales to lockdown-affected Britons. More from Homebase Homebase to axe 303 support centre jobs after… Read full this story
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