Pass The Old Buddha's Department Store Or Buy House Of Fraser

< p > quoted sources reported that the French chain corporation group GaleriesLafayette < a href= "//www.sjfzxm.com/news/index_c.asp" > "Lord of the Buddha" /a "department store intends to acquire the old British high-end chain corporation HouseofFraserLimited, the two sides are conducting in-depth negotiations on exclusivity.

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< p > HouseofFraserLimited has hired Rothschild bank to handle the sale.

Inside information revealed that the chairman of the board of directors of HouseofFraserLimited, DonMcCarthy, offered at least 450 million pounds, while GaleriesLafayette Lafayette department will no longer have exclusive bargaining power next month.

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< p style= "text-align: center" > < img border= "0" align= "center" alt= "" src= "" /uploadimages/201312/20/20131220093921_sj.JPG "/" < > > "

HouseofFraserLimited, valued at about 350 million pounds, has negotiated with P boss MikeAshley, British department store retailer JohnLewisPartnership and Qatar sovereign investment fund in the past two years in the past two years.

At present, HouseofFraserLimited is working on a two track system. On the one hand, it is going to be sold with potential buyers such as GaleriesLafayette, Lafayette department store, etc. on the other hand, it is preparing to list again on the London Stock Exchange early next year.

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P, a 164 year old HouseofFraserLimited, was privatized by HighlandGroupHoldingsLimited, a consortium headed by BaugurGroup of Iceland investment company in 2006, and was delisted from the London Stock Exchange by 350 million.

BaugurGroup filed for bankruptcy in 2009. The HouseofFraserLimited share held by the group then went to one of its creditors, the Landsbanki National Bank of Iceland, which also went bankrupt in the European financial crisis in 2008. HouseofFraserLimited's a href= "//www.sjfzxm.com/news /index_c.asp" > ownership structure "/a" also complicates.

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< p > at present, HighlandGroupHoldingsLimited owns HouseofFraserLimited49% stake, group chairman DonMcCarthy accounts for 20%, retail entrepreneurs TomHunter and KevinStanford share 11% and 9% respectively, LloydsBankingGroup has 5%, and the remaining 6% is held by management.

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< p > > a href= "//www.sjfzxm.com/news/index_c.asp" > HouseofFraserLimited < /a > currently there are 61 stores in the United Kingdom and Ireland, with a total income of 1 billion 200 million pounds for the year ended January 26, 2013, a loss of 6 million 900 thousand pounds before taxes and special items, and a net debt of 157 million 200 thousand pounds.

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Less than P, after 1 billion 600 million euros in the bid to win the Middle East gold in Paris spring department store in, GaleriesLafayette Lafayette department looked at the Great Britain across the sea.

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< p > GaleriesLafayette the Department of Lafayette is also actively expanding in the international market. This year, it has not only entered Jakarta, Indonesia, but also joined the Hongkong retail group I.TLimited (0999.HK) to open China's first store in Beijing.

GaleriesLafayette the total number of stores at home and abroad was 65, which earned 2 billion 300 million euros last year.

GaleriesLafayette, which was founded in 1894, is still controlled by the founder family. The PhilippeHouz, the son-in-law of the founder's granddaughter, is now chief executive officer of GaleriesLafayette's department store.

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