Holiday Autos Owner Accelerates £150m Sale

The owner of the Holiday Autos car rental brand is close to hiring bankers to oversee a sale that could value the business at more than £150m.

Sky News understands that ECI Partners, the private equity group which owns a controlling stake in CarTrawler, a Dublin-based provider of online car rental distribution systems, is on the verge of appointing PricewaterhouseCoopers (PwC) to advise on an auction which is expected to get underway by the end of the year.

The development comes weeks after it emerged that ECI was plotting a sale of the business just two years after it bought CarTrawler for about £80m.

That deal earned multimillion pound windfalls for Greg and Niall Turley, the brothers who founded the business and oversaw its expansion into more than 170 countries.

Such a rapid change of ownership is not unusual in the private equity industry, although it is possible that ECI will decide against a sale if prospective buyers fail to meet its valuation expectations. PwC also advised ECI on its acquisition of the company.

CarTrawler announced the acquisition of the online assets of Holiday Assets earlier this summer, buying them from Travelocity Global, the immediate parent company of Lastminute.com, the online leisure bookings company.

That deal reunited ECI with Holiday Autos, which it had owned for several years before selling to Lastminute while it was a publicly-listed company in London in 2003.

CarTrawler, which has become a popular platform for companies to rent cars online, has annual bookings of around 5m vehicles, and sales of more than £425m.

ECI declined to comment.

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Kate Moss cosies up to husband Jamie Hince in boho frock as they continue holiday with Sir Philip Green

By Daily Mail Reporter

PUBLISHED: 13:50 EST, 25 August 2013 | UPDATED: 14:47 EST, 25 August 2013

She's one of the best known supermodels in the world, so Kate Moss of course has a holiday wardrobe to die for as she ensures she looks her best at all times.

And Sunday morning was no different as she continues her sunshine break in the South of France with both her husband Jamie Hince and pal Sir Philip Green.

The catwalk star opted for a boho look for the day as she stepped out linking arms with Jamie.

Boho babe: Kate Moss shows off her hippie style in a printed frock with tassels as she joined husband Jamie Hince and pal Sir Philip Green on holiday in the South of France

The 39-year-old stunned in a paisley style printed frock with a tasseled bottom to fit in with the style.

She showed off her slim waist with the black belt cinching in at her stomach, while she flashed some flesh as the neckline draped down to show a hint of her white bikini.

Kate walked along barefoot and even accessorised in keeping with the hippie look with a chain around her neck.

Summer style: The catwalk star stunned as she lapped up the sun in the cute frock on Sunday

Summer days: The group were spotted heading into Club 55 for lunch as they took a break from sunbathing

Catching up: Kate and Jamie were first seen with Sir Philip on Saturday and seem to be spending several days with him in France

To complete the carefree ensemble she scraped her hair back off her face and covered her eyes from the burning rays in large dark sunglasses.

She remained close to Jamie as the pair held hands, while he kept casual in shorts and an open neck shortsleeved shirt.

And it was good to see them putting on some sort of PDA as they day before Jamie was left lagging behind as Kate mingled with Sir Philip.

Relaxed: Both Kate and Philip looked content as they wandered along the hot sand together

Firm friends: Kate has been on a long holiday this summer but made sure she incorporated a catch up with the Topshop mogul into it

Stocking up: After enjoying their lavish lunch date the group then headed back to the yachts in St Tropez

Barefoot: She walked along minus her sandals while accessorising with a long necklace and earrings

Kate Moss first proved that Topshop mogul Sir Philip is still part of her inner circle as the pair hit the beach together in the South of France on Saturday.

Looking as stylish as ever in a strapless black swimsuit and a print skirt, the catwalk star laughed and chatted with the businessman, while her rocker husband Jamie Hince trailed behind.

The 39-year-old has been spending the last few weeks sunning herself in the Med, and seems to be joined by a constantly revolving door of famous pals.

Sir Philip seemed to be the latest edition to her holiday jet-set, and Kate certainly seemed to be enjoying the billionaire's company.

The star seemed in high spirits as she jumped off of a boat with her pal onto a nearby beach and wandered along the sand, chatting animatedly as she did.

Good pals: Kate Moss was joined by Topshop boss Sir Philip Green as they hit the beach in the South Of France on Saturday

Living it up: Kate and Sir Philip proved just how close they are as they stuck close during their day on the beach

Arm-in-arm: Kate and the Topshop boss giggled and chatted together as they found a spot to sit on the sand

Keep up! Kate's rocker husband Jamie Hince was left out in the cold as he trailed behind

Casual stroll: Model Kate Moss and her husband Jamie Hince stroll alongside Sir Philip Green in Saint Tropez

Laughing and joking: Kate and Sir Philip shared a joke together as they laughed on the beach in St Tropez

Kate had put together yet another chic beach-side look, showing off her slimline frame in a strapless swimsuit, paired with a tiny skirt, which seemed to be attached.

She wore her trademark blonde hair scraped back into a chic bun and wore a huge pair of dark sunglasses over her make-up free face.

The supermodel carried a large white bag over one arm and seemed keen to stick close the Topshop boss as she walked alongside him.

Quick lift: Kate and Jamie hitched a ride to the shore with the billionaire earlier in the day

Time for more sun: Jamie covered up in jeans and a print shirt, but seemed ready to hit the beach

Helping hand: Kate Moss is helped out of the boat by Sir Philip Green as the lifeguards hold the dinghy steady

Unfortunately for her doting husband, he was left to trail in behind in his wake, wandering off along the beach alone as his wife zoomed ahead.

Fun-loving Kate has certainly been making the most of the summer months as she's spent all of her time jetting from one back paradise to the next.

Just a few days earlier Kate was seen sunbathing aboard a yacht with her close friend and photographer Mario Testino.

She has also been spotted spending quality time with her daughter Lila Grace during their fun-filled break under the sun.

Life's a beach: The model seemed in great spirits as she geared up for another day of sea and sand 

It's a lovely holiday: Kate Moss and Jamie Hince enjoyed a holiday with Philip Green in the South of France

Super stylish: Kate put together yet another on-trend look as she sunned herself with Sir Philip

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Kate Moss cosies up to husband Jamie Hince in boho frock as they continue holiday with Sir Philip Green

By Daily Mail Reporter

PUBLISHED: 13:50 EST, 25 August 2013 | UPDATED: 14:47 EST, 25 August 2013

She's one of the best known supermodels in the world, so Kate Moss of course has a holiday wardrobe to die for as she ensures she looks her best at all times.

And Sunday morning was no different as she continues her sunshine break in the South of France with both her husband Jamie Hince and pal Sir Philip Green.

The catwalk star opted for a boho look for the day as she stepped out linking arms with Jamie.

Boho babe: Kate Moss shows off her hippie style in a printed frock with tassels as she joined husband Jamie Hince and pal Sir Philip Green on holiday in the South of France

The 39-year-old stunned in a paisley style printed frock with a tasseled bottom to fit in with the style.

She showed off her slim waist with the black belt cinching in at her stomach, while she flashed some flesh as the neckline draped down to show a hint of her white bikini.

Kate walked along barefoot and even accessorised in keeping with the hippie look with a chain around her neck.

Summer style: The catwalk star stunned as she lapped up the sun in the cute frock on Sunday

Summer days: The group were spotted heading into Club 55 for lunch as they took a break from sunbathing

Catching up: Kate and Jamie were first seen with Sir Philip on Saturday and seem to be spending several days with him in France

To complete the carefree ensemble she scraped her hair back off her face and covered her eyes from the burning rays in large dark sunglasses.

She remained close to Jamie as the pair held hands, while he kept casual in shorts and an open neck shortsleeved shirt.

And it was good to see them putting on some sort of PDA as they day before Jamie was left lagging behind as Kate mingled with Sir Philip.

Relaxed: Both Kate and Philip looked content as they wandered along the hot sand together

Firm friends: Kate has been on a long holiday this summer but made sure she incorporated a catch up with the Topshop mogul into it

Stocking up: After enjoying their lavish lunch date the group then headed back to the yachts in St Tropez

Barefoot: She walked along minus her sandals while accessorising with a long necklace and earrings

Kate Moss first proved that Topshop mogul Sir Philip is still part of her inner circle as the pair hit the beach together in the South of France on Saturday.

Looking as stylish as ever in a strapless black swimsuit and a print skirt, the catwalk star laughed and chatted with the businessman, while her rocker husband Jamie Hince trailed behind.

The 39-year-old has been spending the last few weeks sunning herself in the Med, and seems to be joined by a constantly revolving door of famous pals.

Sir Philip seemed to be the latest edition to her holiday jet-set, and Kate certainly seemed to be enjoying the billionaire's company.

The star seemed in high spirits as she jumped off of a boat with her pal onto a nearby beach and wandered along the sand, chatting animatedly as she did.

Good pals: Kate Moss was joined by Topshop boss Sir Philip Green as they hit the beach in the South Of France on Saturday

Living it up: Kate and Sir Philip proved just how close they are as they stuck close during their day on the beach

Arm-in-arm: Kate and the Topshop boss giggled and chatted together as they found a spot to sit on the sand

Keep up! Kate's rocker husband Jamie Hince was left out in the cold as he trailed behind

Casual stroll: Model Kate Moss and her husband Jamie Hince stroll alongside Sir Philip Green in Saint Tropez

Laughing and joking: Kate and Sir Philip shared a joke together as they laughed on the beach in St Tropez

Kate had put together yet another chic beach-side look, showing off her slimline frame in a strapless swimsuit, paired with a tiny skirt, which seemed to be attached.

She wore her trademark blonde hair scraped back into a chic bun and wore a huge pair of dark sunglasses over her make-up free face.

The supermodel carried a large white bag over one arm and seemed keen to stick close the Topshop boss as she walked alongside him.

Quick lift: Kate and Jamie hitched a ride to the shore with the billionaire earlier in the day

Time for more sun: Jamie covered up in jeans and a print shirt, but seemed ready to hit the beach

Helping hand: Kate Moss is helped out of the boat by Sir Philip Green as the lifeguards hold the dinghy steady

Unfortunately for her doting husband, he was left to trail in behind in his wake, wandering off along the beach alone as his wife zoomed ahead.

Fun-loving Kate has certainly been making the most of the summer months as she's spent all of her time jetting from one back paradise to the next.

Just a few days earlier Kate was seen sunbathing aboard a yacht with her close friend and photographer Mario Testino.

She has also been spotted spending quality time with her daughter Lila Grace during their fun-filled break under the sun.

Life's a beach: The model seemed in great spirits as she geared up for another day of sea and sand 

It's a lovely holiday: Kate Moss and Jamie Hince enjoyed a holiday with Philip Green in the South of France

Super stylish: Kate put together yet another on-trend look as she sunned herself with Sir Philip

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Bank Holiday Discounts: Warning From Watchdog

The consumer watchdog has urged shoppers to quiz carpet and furniture retailers before they buy this long weekend - after it found some used artificially high prices to exaggerate sales and price cuts.

The Office of Fair Trading (OFT) is investigating six chains after discovering many retailers in the sector were misleading customers into thinking they were getting a bargain by artificially inflating the original price.

It found "systematic" examples of artificially inflated reference pricing within the industry, through the use of "was" prices formerly charged by the retailer, "after sale" prices that the trader intended to charge in the future, or recommended retail prices (RRPs) set by the manufacturer.

During monitoring of the six companies, the overall average of sales of items at the reference price was just 5%.

OFT director Gaucho Rasmussen said: "This bank holiday sale season we would recommend that consumers ask sales staff when and for how long the reference price was used and also how many sales they achieved at this price."

The OFT said there were a significant number of products sold by some retailers where no sales at all took place at the artificially inflated price.

In all cases, no explanation of how and when these higher prices were established were provided.

The consumer watchdog has written to the six retailers asking them to stop using the pricing practices that mislead consumers, giving them until autumn to respond.

The OFT did not name the companies in the hope of reaching a quick resolution, however Carpetright has since confirmed it has been contacted as part of the investigation.

It said: "Carpetright strives to operate fully within all laws and regulations at all times. Carpetright is co-operating fully with the OFT and will respond to the letter in due course."

"There is no suggestion in the letter of Carpetright having behaved in a manner which breaches competition law."

Approached by Sky News, retailer DFS declined to comment.

Furniture Village said: 'We are aware of ... the ongoing investigations being undertaken, and it would be inappropriate for us to comment until such time as its findings are published.

"Furniture Village is fully supportive of any initiative which ensures that, industry-wide, future pricing policies and practices are fair and accurate."

Mr Rasmussen said: "OFT research has found that reference pricing can mislead consumers into thinking the item they have bought is of higher value and quality.

"(With) pressure them to buy there and then so they don't 'miss out' on the deal and also impair their judgment, as buying an item immediately means they do not get the chance to search the market for the real best deals.

"This will help them to determine whether they are getting a good deal."

Richard Lloyd, executive director of Which?, the consumer campaigning charity, added: "The OFT's warning sends a clear message to carpet and furniture stores that special offers really have to be special.

"It's unacceptable that shoppers are misled into thinking they're getting a good deal when that might not be the case."

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