trending Market Intelligence /marketintelligence/en/news-insights/trending/w0xztu_ffzfudg3f-iruqa2 content esgSubNav
In This List

Nanjing Xinjiekou to sell stake in House of Fraser

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Nanjing Xinjiekou to sell stake in House of Fraser

Chinese department store operator Nanjing Xinjiekou Department Store Co. Ltd. will sell its majority stake in the U.K.-based department store chain House of Fraser, the (London) Financial Times reported March 6, citing a Shanghai stock exchange filing by the Chinese company.

Nanjing Xinjiekou said in the filing that it will sell its 51% stake in House of Fraser to Chinese tourism group Wuji Wenhua.

The report noted that the Chinese department store operator's largest shareholder, Sanpower Group, bought House of Fraser for £155 million in 2014 but failed to expand the British retailer globally.