General Atlantic buys into Torex Retail

Archived article dated Wednesday August 29th 2007

Private equity firm Cerberus has sold a third of its stake in Torex Retail, which it bought out of administration in June for £204.4m, to General Atlantic

Michael Greenough, the chief executive and chairman of Torex Retail, said: "The new leadership team at Torex Retail previously had a successful partnership with Cerberus and General Atlantic at SSA Global and we recognise the value that they add. "We are excited to be working with these two knowledgeable investors again."

Two General Atlantic managing directors, Marc McMorris and Florian Wendelstadt, will be joining Torex's board.

Tagged as: torex retail

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