Apollo drafts in former Coty CEO to help with THG offer - report

A former chief executive of Coty has reportedly been drafted in to help Apollo Global Management draw up a firm offer for health and beauty retailer THG.

According to Sky News, Apollo has enlisted Camillo Pane and Tony Buffin, a former CEO of the health foods chain Holland & Barrett, to advise on its interest in THG.

The disclosure of their involvement is likely to strengthen expectations that Apollo intends to make a formal offer for THG ahead of a Takeover Panel-imposed deadline of 15 May, Sky said.

It was unclear whether Pane or Buffin would have any ongoing role with the business if Apollo succeeds in taking over its target, which owns MyProtein and Cult Beauty.

Sky noted that previous talks about potential offers for THG, from a range of parties, stalled over the last 18 months, but many analysts expect the company's board to recommend a deal - either with Apollo or another bidder - in the near term.

At 1250 BST, THG shares were up 11% at 110.75p.