Sir Philip Green to sell Topshop stake
December 5 , 2012
British retail tycoon Sir Philip Green is in talks to sell off part of his Topshop chain to American investors, sources close to the deal revealed on Tuesday.
The billionaire is seeking to sell a stake of up to 25 percent of Topshop and Topman, according to the sources.
The private equity owners of U.S. retailer J Crew have been named as the possible buyers.
Topshop is part of the Arcadia group, which also includes Miss Selfridge and BHS.
Sir Philip took over the Arcadia Group, which employs 45,000 people, in 2002. He is worth an estimated fortune at $5.3 billion.