Iron ore magnate Andrew Forrest is understood to be eyeing up a purchase of Woolworth Holdings’ portfolio of David Jones stores.

The South African company, which also owns Country Road, said in a presentation to analysts that “all options” for the future of the struggling business were on the table.

Mr Forrest’s private investment company Tattarang is understood to have registered its interest in doing a deal for David Jones, holding very early discussions with Goldman Sachs, which has been appointed to run the sale process, but it has made no direct approach to Woolworths Holdings.

Mr Forrest, the founder of Fortescue Metals Group who will soon pocket a cool $1.37 billion dividend cheque from the miner, is believed to want to revive the brand under Australian ownership — a strategy that has proved a success following his purchase of RM Williams in late 2020.

Sunrise correspondent Matt Tinney has the details.

Iron ore magnate Andrew Forrest is understood to be eyeing up a purchase of Woolworth Holdings’ portfolio of David Jones stores.
The South African company, which also owns Country Road, said in a presentation to analysts that “all options” for the future of the struggling business were on the table.
Mr Forrest’s private investment company Tattarang is understood to have registered its interest in doing a deal for David Jones, holding very early discussions with Goldman Sachs, which has been appointed to run the sale process, but it has made no direct approach to Woolworths Holdings.
Mr Forrest, the founder of Fortescue Metals Group who will soon pocket a cool $1.37 billion dividend cheque from the miner, is believed to want to revive the brand under Australian ownership — a strategy that has proved a success following his purchase of RM Williams in late 2020.
Sunrise correspondent Matt Tinney has the details.

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If you enjoyed listening to The West Live for your daily news fix, then come and join us over on The Nightly Five.  Host Ben O’Shea continues to deliver punchy news and analysis, in a new podcast to get you in front of tomorrow’s news today!  Subscribe on your favourite podcast player and visit the <a href="https://thenightly.com.au">thenightly.com.au</a>

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