Carlyl and Abu Dhabi’s IMI Give Barclay’s Very Group a £125m Boost

Mar 1, 2024 | News

The Very Group, spearheaded by the Barclay family, has recently announced a significant financial milestone, obtaining a £125 million investment from influential entities Carlyle and IMI.

This strategic financial infusion arrives at a critical juncture, as the group navigates through governmental and regulatory examination concerning the potential sale of The Telegraph. The investment is poised to bolster the company’s board with new insights from Carlyle and IMI’s appointed members.

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In conjunction with the financial injection, Carlyle and IMI will each designate a representative to join The Very Group’s board, introducing new perspectives and governance dynamics. This board expansion coincides with the search for a new chairman, a role temporarily filled by Aidan Barclay following Dirk Van den Berghe’s departure. These leadership changes underscore the company’s commitment to navigating its current challenges while setting the stage for future successes.

The Very Group’s recent financial maneuvers, notably the £125 million investment and the consequent board and leadership adjustments, signal a strategic pivot towards stabilizing and expanding its operations. This development not only influences the company’s internal dynamics but also holds broader implications for the retail and media landscape, especially in the context of the ongoing scrutiny over The Telegraph’s potential sale. As The Very Group embarks on this new chapter, industry observers and stakeholders keenly anticipate the ripple effects of these changes.

Source: BNN Breaking

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