Philip Green sells 25% of Topshop to US PE group
Deal with Leonard Green and Partners values chain at £2bn
By CFOWorld.co.uk staff | CFO UK | Published 14:03, 06 December 12
Clothing retail magnate Sir Philip Green has sold a 25 percent stake in his Topshop and Topman chain, to US private equity group Leonard Green and Partners.
The deal, announced on Thursday, values the two brands at £2 billion. In a statement, Green said the rest of the Arcadia group – which also owns BHS, Burton, Dorothy Perkins and Miss Selfridges – would be ring-fenced from Leonard Green and Partners' stake in in Topshop and Topman.
Green said, "This is a very exciting time. Topshop and Topman could now become major global players".
Sir Philip Green took over Arcadia Group in 2002, paying £850 million for the group. BHS was separately acquired by for £200 million in 2000.
Leonard Green and Partners has investments in a number of retail chains including brands such as J Crew and Whole Foods Market in the US.
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