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Lorna Jane to be put up for sale, says report

Brisbane-based clothing company Lorna Jane will reportedly be put up for sale at an AUD500 million (USD468.6m) price tag.

The Australian Financial Review reported on Thursday private equity firm CHAMP Ventures and company founder Lorna Jane Clarkson have decided to sell the business after abandoning plans to publicly float its shares.

Bankers from Credit Suisse’s New York branch have been called in to run the auction, AFR reported, with news of the impending sale expected to be announced by Lorna Clarkson and her husband and co-founder Bill Clarkson.