French Connection Group plc, the London-based clothing retailer, said it bought back the remaining 50 percent stake in its Japanese business, French Connection Japan Inc., from Renown Inc.
French Connection said the transaction had been satisfied by the waiver of a 1.98 million pounds, or $3.95 million, loan due to Renown Inc. by French Connection Japan, and a cash payment of 240,000 pounds, or $479,600, made by Renown to French Connection.
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