UK's House of Fraser seeks new investment after C.banner cancels fundraising

C banner International Holdings

01/08/2018 16:13

LONDON, Aug 1 (Reuters) - British retailer House of Fraser
said on Wednesday it was looking at other options to obtain
investment after C.banner  1028.HK  cancelled planned
fundraising for its deal to become a majority shareholder in the
department store.
    C.banner, an international retailer, agreed in May to buy a
51 percent stake in House of Fraser, but earlier on Wednesday it
cancelled a planned share placing that would have funded the
deal and announced a profit warning.  urn:newsml:reuters.com:*:nHKS8VWcBd  urn:newsml:reuters.com:*:nFWN1US0VR
    "In light of C.banner's announcement... House of Fraser is
in discussions with alternative investors and is exploring
options to obtain the required investment on the same
timetable," the retailer said in a statement.

    

 (Reporting by Alistair Smout; editing by Stephen Addison)
 ((alistair.smout@thomsonreuters.com; +44 207 542 7064; Reuters
Messaging: alistair.smout.thomsonreuters.com@reuters.net))