Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Och-Ziff snaps up Debenhams stake

Och-Ziff, the American hedge fund which backs fast-fashion chain Peacocks, has emerged as the largest shareholder in Debenhams with an 11 % stake in the department store.

Och-Ziff bought 9% from TPG, the private equity group which floated Debenhams in 2006.

At the same time, Debenhams finance director Chris Woodhouse offloaded most of his stake in the department store.

Woodhouse sold nearly three-quarters of his holding in a transaction worth £7.2m between October 22 and October 28. Woodhouse now has a 0.24% stake in Debenhams.

According to reports, Woodhouse’s decision to sell the shares was made for personal reasons.

Woodhouse and chief executive Rob Templeman and chairman John Lovering were drafted in to Debenhams by private equity company CVC in 2003.

Lovering announced his intention to step down as chairman next year. CVC exited Debenhams when it raised £323m in a capital raising in June.

One unnamed analyst quoted in The Times said: “There’s a feeling that Debenhams is moving on from the private equity days, which will be more pleasing to its institutional shareholders.”

Last week the company reported annual profits of £125 million, up 14 per cent.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.