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TPG BAGS REPUBLIC FOR £300M

TPG Capital, the US private equity giant behind the controversial “quick flip” of Debenhams in 2006, has moved down the market capitalisation scale to buy youth fashion retailer Republic for £300m. TPG aims to double the number of Republic outlets in the UK and Ireland from 103 to more than 200. The transaction marks a 4.7 times return on initial investment for Change Capital Partners, which will exit the company.