(MENAFN) A Chinese group has recently agreed to purchase a majority stake in the UK's department store House of Fraser, Times of Oman reported
A joint statement said that China's Sanpower will buy the stake for as much as USD800 million
Sanpower is set to acquire 89 percent of the British department store chain through its subsidiary Nanjing Cenbest
Sanpower's founder and chairman said: "House of Fraser is a strong and iconic heritage brand in the UK and abroad, with exceptional fashion credentials.
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