Internet sites including the Daily Telegraph have published news about the impending sale of the PHS Group.
Rumours have been abounding about the impending sale of the PHS Group that includes PHS Teacrate. PHS Teacrate deny that the company is for sale and say that the rumours are without foundation.
The rumours have come from stories that have appeared on Internet sites, most notably in the Daily Telegraph online in a story by journalist Helia Ebrahimi on 22 January, 2011 followed by back-to-back reports on Thisismoney.co.uk, written by Mark Foxwell on Sunday 29 May, 2011 and a report by Catherine Deshaves on the Business Sale Report website a day later. With this kind of coverage it’s hardly surprising that chins will wag.
All the reports agree that the Group has been put on the market for a figure of around £1.5 billion and that its main shareholder, Charterhouse Capital, has appointed Goldman Sachs to sound out potential buyers. The reports say that it is hoped the sale will take place before the end of 2011. Several private equity and trade buyers are reported to have expressed an interest.
The PHS Marketing Department is remaining remarkably quiet about the rumours. Both Ruth Scruton and David Wicks from the company have said that the company is not up for sale but have chosen not to speculate on why the rumours have come about.