Myer owners to sell down entire stakes into IPO

SYDNEY Oct 29 (Reuters) - The two owners of Australian department store chain Myer plan to sell their entire stakes into the company's initial public offer, the main owner, U.S. private equity firm TPG Capital, said on Thursday.

TPG Capital and Australian co-owner Blum are selling out of Myer, the country's largest department-store business, at A$4.10 per share, a TPG spokeswoman said, confirming an earlier Reuters story based on sources with direct knowledge of the deal. (Reporting by Victoria Thieberger; editing by Mark Bendeich) ($1=A$1.08) ((denny.thomas@reuters.com; +61 2 9373 1812; Reuters Messaging: denny.thomas.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))