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Pep Boys Hires Advisor to Explore Sale-report

Friday, 21 January 2011 12:49 PM

NEW YORK (Reuters) - Pep Boys-Manny Moe & Jack , the Philadelphia-based auto parts retailer, has hired Bank of America to explore a sale of the company, Bloomberg reported Friday.

Pep Boys is not likely to run a formal sale process, but is trying to drum up interest among private equity buyers such as Leonard Green & Partners, Bain Capital and TPG Capital [TPG.UL], according to the report.

Separately, a person familiar with the matter told Reuters Friday that Pep Boys had hired Goldman Sachs to sell itself in the past, but the process did not result in a sale.

The company started exploring a potential sale again late last year, but several private equity firms have shown limited interest in buying the company, that source said. (Reporting by Soyoung Kim; Editing by Lisa Von Ahn)

© 2021 Thomson/Reuters. All rights reserved.


   
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NEW YORK (Reuters) - Pep Boys-Manny Moe & Jack , the Philadelphia-based auto parts retailer, has hired Bank of America to explore a sale of the company, Bloomberg reportedFriday. Pep Boys is not likely to run a formal sale process, but is trying to drum up interest...
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2011-49-21
Friday, 21 January 2011 12:49 PM
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