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BRIEF-M&S in talks to transfer Hong Kong, Macau stores to franchise partner
August 30, 2017 / 7:05 AM / 21 days ago

BRIEF-M&S in talks to transfer Hong Kong, Macau stores to franchise partner

Aug 30 (Reuters) - MARKS AND SPENCER GROUP PLC:

* OPENED TALKS WITH ITS FRANCHISE PARTNER AL-FUTTAIM, FOR POTENTIAL PURCHASE AND FRANCHISING OF M&S‘S OWNED RETAIL BUSINESS IN HONG KONG AND MACAU

* ‍SUCCESSFUL CONCLUSION TO THESE DISCUSSIONS WOULD SEE AL-FUTTAIM BECOME NEW SOLE FRANCHISEE FOR M&S IN HONG KONG AND MACAU​

* CO, AL-FUTTAIM ENTERED INTO DISCUSSIONS ON POTENTIAL DEAL, WHICH INCLUDES COMMENCING A PERIOD OF DUE DILIGENCE

* ‍M&S EMPLOYEES WILL BE KEPT INFORMED OF ANY DEVELOPMENTS THROUGHOUT PROCESS​

* ‍M&S STORES IN HONG KONG AND MACAU WILL CONTINUE TO TRADE AS NORMAL​ Source text for Eikon: Further company coverage:

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