Jarden nabs Freedom Furniture mandate | IAG, Allianz eye RAC WA | Allegro to sell Questas

Good evening,

Jarden’s bankers are pulling up a chair and getting to work as Greenlit Brands mandates the trans-Tasman bank to find a new owner for its iconic homeware retailer Freedom Furniture.

Street Talk understands the sell-side mandate was granted earlier this month and follows the completion of Greenlit Brands’ multi-year turnaround plan for Freedom Furniture under former Harvey Norman boss Blaine Callard.

The successful turnaround is expected to form a big part of Jarden’s pitch to domestic and international strategics and financial sponsors. Should the bankers find a buyer for Freedom, it would leave Greenlit Brands with just Fantastic Furniture in its stable.

Read the story: Freedom Furniture’s owner Greenlit Brands taps advisers for sale

Read the full story tomorrow and more on the Street Talk page.

It’s heads down at two Wall Street investment banks as the Royal Automobile Club of Western Australia sale process springs into action.

IAG is understood to be working with Goldman Sachs while Allianz has JPMorgan along for the ride.

The Australian sharemarket closed lower on Tuesday after Donald Trump moved forward with higher tariffs on major trading partners, dashing hope of a reprieve for China and Canada who swiftly retaliated.

Click here for the latest equity market wrap.