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2 years ago
Brait to buy 90 pct stake in retailer New Look for $1 bln
May 15, 2015 / 5:37 AM / 2 years ago

Brait to buy 90 pct stake in retailer New Look for $1 bln

JOHANNESBURG, May 15 (Reuters) - South African investment house Brait SE said on Friday it will buy a 90 percent stake in British fashion retailer New Look for 780 million pounds ($1.23 billion).

Brait said the acquisition values New Look at an enterprise value of 1.9 billion pounds.

In April, Brait bought an 80 percent controlling stake in gym group Virgin Active for $1 billion.

$1 = 0.6344 pounds Reporting by Olivia Kumwenda-Mtambo; Editing by Shri Navaratnam

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