Wall Street giant swooping in for $10bn Subway sale

7th March 2023 | Jack Oliver

An arm of Wall Street’s Goldman Sachs is looking to take control of part of sandwich chain Subway, which has been put on the market for around $10bn (c.£8.34bn).

According to Sky News, the asset management branch of the banking giant is one of several interested parties who have put forward offers within the last week.

TDR Capital, who own Asda and petrol forecourts EG Group, is one of a number of potential investors, alongside Bain Capital and TPG.

The size of the potential takeover would be difficult for the initial bidders to take on alone, so there is reason to believe that some may band together to purchase the chain.

This comes after the family-owned business, founded in Connecticut in 1965, announced that it was exploring a sale.

The sandwich chain said in a statement in February that there was no indication of timing or assurance that a sale would occur.

Subway trades from over 2,000 sites in the UK.


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