Baugur debt set to change hands

Private equity firm TPG and UK retail king Philip Green are going head to head to try and pick up some of the assets owned by Baugur, the troubled Icelandic retail investment company. These include highly prized UK high street names, such as House of Fraser and Karen Millen, which were acquired through leveraged buyouts. But Icelandic banks were not the only ones who put up the financing — other European lenders to Baugur must also now figure out what this means for them. Read EuroWeek on Friday for more detail on how banks will be affected by Baugur’s woes.