Anchorage Capital Partners has sold its stake in Dick Smith Holdings, offloading just over 47 million shares for around $105 million. This sale comes around 10 months after Dick Smith was floated on the ASX.
As Dick Smith Holdings prepares to transition from private equity ownership to public accountability, management is aware of the responsibility that comes from overseeing a company with an implied market capitalisation of $520 million.
Dick Smith has confirmed it will ‘expand its footprint’ across Australia and New Zealand following news that its owner, Anchorage Capital Partners, has “completed a release from the financial obligations” to former owner Woolworths.
Having completed the purchase of Dick Smith Electronics from Woolworths, Anchorage Capital Partners has this morning announced the leadership team that will take over the running of the retailer’s head office.