LONDON — Nanjing Cenbest, otherwise known as Nanjing Xinjiekou Deparment Store Co. Ltd., a Chinese department store chain and a subsidiary of the Chinese conglomerate Sanpower Group, said Saturday that it has signeda definitive agreement to acquire 89 percent of the U.K. department store group House of Fraser, in a deal that values House of Fraser at around 480 million pounds, or $804.3 million at current exchange.
The deal, announced in a joint statement from Nanjing and House of Fraser, comes after weeks of talks between the two firms.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
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