Friday 23 July 2021 8:19 am

Bankers, lawyers and advisers set to enjoy £300m in fees from Morrisons sale

Over £300m in fees stands to be gained by those involved in the £6.3bn sale of Morrisons, documents have revealed according to a report.

Shareholders in Morrisons will vote on a £6.3bn takeover bid from a trio of private investment groups led by SoftBank-owned Fortress on 16 August.

If the deal goes ahead, private equity firm Fortress and its consortium will see a fee of £263m, including £169m for financing arrangements, according to The Daily Mail.

Brokers and financial advisers will receive a further £36m, while £17m will be spent on legal costs and public relations advisers will be paid an additional £800,000.

Morrisons is separately spending up to £49.6m on experts and brokers.

It is being advised by Rothschild, Shore Capital and Jefferies. Fortress counts HSBC and RBC as advisers, scheme documents said.