01:20 PM EDT, 03/18/2024 (MT Newswires) -- Soho House ( SHCO ) has been in talks with investment firm CC Capital to explore taking the members club operator private, Reuters reported Monday citing people familiar with the matter.

The report said there is no assurance of a deal, but the talks have been on and off since late 2023. Soho House ( SHCO ) announced in February that it had formed a special committee to review its options, including going private.

CC Capital declined to comment to Reuters.

Earlier Monday, Soho Executive Chairman Ron Burkle issued an open letter to shareholders, saying he was not part of any bid to take the company private but that he would be required to roll his shares on any proposal that may be on the table.

"The interest from the special committee process has shown private buyers may be willing to step up and close the gap," Burkle wrote.

Soho House ( SHCO ) and CC Capital did not immediately respond to requests for comment from MT Newswires.

Soho House ( SHCO ) shares were up 16.5% in recent Monday trading following the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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