Bank will finance most of the debt for the deal
British bank HBOS has been revealed as a key member of the Baugur consortium set to take a£350 million stake in House of Fraser, according to newspaper reports today.

Other partners in the Icelandic private equity company's bid to take the department store chain private include Karen Millen founder Kevin Stanford and another Icelandic private equity house, the FL Group.

It is understood that HBOS will finance the majority of the debt for the deal.

Last month, following weeks of speculation, the department store group confirmed it had been approached by Baugur about an offer for the chain.

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