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Poundland owner gears up for €4bn float or sale

According to reports, Pepkor Europe has been speaking to advisors and bankers about a possible float or sale which would value it at around €4bn

Poundland -
Poundland used to be listed on the LSE before it was bought out in 2016

The owner of Poundland is gearing up for a sale or stock market float which could see it valued at up to £3.7bn (€4bn).

According to reports, Pepkor Europe has held meetings with legal advisers and will sound out bankers next month to explore a float or sale.

Citing sources, The Times said the business has recently refinanced its high-interest debts and moved to untangle itself from Steinhoff – its scandal-ridden parent company.

Should a sale or IPO materialise, Pepkor Europe is expected to be valued at around €4bn and would likely attract “significant interest” from private equity firms.

Poundland was previously listed on the London Stock Exchange before being taken out by South African retailer Steinhoff for £610mln in 2016.

Steinhoff then combined Poundland with its other discount chain Pepkor and Pep & Co, its growing fashion brand, to create Pepkor Europe.

Quick facts: Poundland Group PLC

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