The Good Guys has appointed lead managers for its IPO tilt, but remains open to local and international trade acquisition offers.
The Good Guys is one step closer to listing on the ASX. The appliance and whitegoods retailer has appointed Credit Suisse, Goldman Sachs and UBS as joint lead managers to support its planned IPO and listing on the ASX.
Helfen Corporate Advisory has also been appointed as independent financial advisor.
Despite these appointments, the retailer has stated that it will remain open to “any alternate ownership proposals that emerge.”
Electronics retailer JB Hi-Fi has emerged as a frontrunner for the acquisition, announcing last week that it had engaged in “ “preliminary and exploratory” discussions with The Good Guys.
Harvey Norman has also stated that it would consider acquiring the retailer provided the ACCC approves.
If either JB Hi-Fi or Harvey Norman acquires The Good Guys, it would significantly strengthen their position in the whitegoods and appliance market. This would especially be the case for JB Hi-Fi, which is working to ramp up its Home offering and solidify its place in the home appliance and whitegoods market.
While a local trade sale is still on the cards, South African retail holding company Steinhoff International is also rumoured to be in the running for the acquisition. Regardless of whether Steinhoff is successful in its pursuit of The Good Guys, it could emerge as a competitor. Steinhoff is currently eyeing off a number of Masters Home Improvement sites, with plans to launch its big-box home, appliance and whitegoods chain, POCO, in Australia.