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Chinese company C.banner wants to buy iconic UK toy store Hamleys

Staff writer ▼ | October 26, 2015
C.banner International Holdings, the Chinese footwear company, is to buy the 255-year-old British toy retailer Hamleys for around 100 million pounds ($154.1 million).
Possible acquisition   $154.1 million for toy store
C.banner confirmed in a statement to the Hong Kong stock exchange on Thursday that discussions to buy Hamleys, from French retailer Groupe Ludendo, were at an "advanced stage".

It said it was "in the process of negotiating and finalizing the definitive documentation with a view to entering into a legally binding agreement in the near future". It said it had not entered into any definitive agreement with the seller.

A specialist women's footwear retailer selling under brands including MIO and Sundance, C.banner is also believed to be working on a partnership to distribute toys and children's products via the British department store House of Fraser, which was bought by Chinese conglomerate the Sanpower Group last year.