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Fashion Jobs
By
Reuters
Published
Apr 14, 2014
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China's Sanpower seals deal for House of Fraser

By
Reuters
Published
Apr 14, 2014

The Shanghai-listed retail arm of Sanpower Group sealed a deal to buy 89 percent of the owner of British department store House of Fraser for 480 million pounds ($803 million.


Nanjing Xinjiekou Department Store said on Saturday that it expected the acquisition to close in four months, subject to customary closing conditions.

The company earlier this month confirmed it was in discussions to buy the stake.

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