TPG Sells Off Flagging Clothing Chain

Law360, New York (February 28, 2013, 2:10 PM EST) -- Beleaguered U.K. fashion retailer Republic on Thursday found a new owner in sportswear company Sports Direct International PLC, closing out a brief period of insolvency that put a black mark on its former private equity owner, TPG Capital.

Financial terms were not disclosed, but the sale dealt a sharp blow to Texas-based TPG, which spent a reported £300 million ($450 million) to acquire the company less than three years ago. With its buy, Sports Direct — one of the U.K.'s top sportswear retailers — picks up...
To view the full article, register now.