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Goldman Sachs arm among bidders in possible $10 billion Subway sale, Sky News says
Goldman Sachs arm among bidders in possible $10 billion Subway sale, Sky News says By Reuters
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Stock Markets 2 hours ago (Mar 04, 2023 02:45PM ET)
(C) Reuters. FILE PHOTO: The Subway restaurant logo is seen on a napkin in this illustration photo August 30, 2017. REUTERS/Thomas White/Illustration
(Reuters) -Goldman Sachs Group Inc’s asset management arm is among the suitors for the U.S. based sandwich chain Subway, which has been put up for sale with an estimated $10 billion price tag, Sky News reported on Saturday.
Bain Capital, TPG and TDR Capital are also among the other suitors, the report added.
Goldman Sachs (NYSE:GS) and TPG declined to comment.
Subway, Bain Capital and TDR did not immediately respond to Reuters’ requests for comment.
The sandwich chain last month said it was exploring a possible sale of its business due to surging costs and mounting competition from deeper-pocketed rivals.
The quick-service restaurant brand did not indicate the timing or assurance of whether a sale would occur.
The Wall Street Journal in January said a potential sale could value Subway at more than $10 billion.
The company reported a 9.2% jump in same-store sales for 2022 and has more than 37,000 restaurants in more than 100 countries.
Goldman Sachs arm among bidders in possible $10 billion Subway sale, Sky News says
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