DELOITTE EXPECTS to find a buyer for Healthspan, a vitamins and minerals business, within the next few months.
The business, owned by Derek Coates, an entrepreneur, is poised to be sold for about £150m, The Independent reported.
Coates, who also owns the Guernsey-based airline Blue Islands, appointed Deloitte’s corporate finance team last year to run a sale of his Healthspan home shopping business, which has grown rapidly since he founded it in 1996, The Independent added.
Between 10 and 12 private equity and trade suitors submitted first-round bids before Christmas, but Deloitte has now whittled this number down to a handful. Second-round bids will be accepted over the coming weeks and Coates hopes to complete a deal within two months, The Independent said.
Coates’s business empire also includes two upmarket hotels on the islands of Guernsey and Alderney. He has put only the Healthspan vitamins and supplements business up for sale. Deloitte declined to comment yesterday and Healthspan did not return calls, The Independent said.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team