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A consortium of private equity groups – including Kohlberg, Kravis Roberts (KKR), Bain, CVC, the Blackstone Group, the Carlyle Group and TPG – reportedly remains interested in making a bid for Cole Group, the nation’s second largest retailer.

To be successful, it is assumed, that bid will have to be equal to or bigger than the $16 billion (US) takeover offer from Wesfarmers, Australia's biggest home-improvement retailer, and a consortium of buyout firms. That bid reportedly was eight percent higher than an earlier offer from a KKR-led consortium led by Kohlberg Kravis Roberts (KKR) that was made and rejected by Coles last October.
Meanwhile, Forbes reports that Australia’s biggest retailer, Woolworths, may look to partner with other private equity groups to launch a bid, though if it were successful it would have to sell off much of Coles’ retail properties. Woolworths reportedly is interested in Coles’ office supply and discount store operations.
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