Under the heading PEP LINES UP BORDERS TO BEEF UP WHITCOULLS CHAIN

Friday's issue of financial journal NBR carried the story by Sineva Toevai suggesting that the likelihood of the A&R Whitcoulls Group being floated in coming months looked unlikely as the private equity owner. Pacific Equity Partners (PEP), was lining up a bid for the Australian and New Zealand stores of US-based Borders. There are 20 Borders stores in Australia and four in New Zealand.

Watch this space !