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Hamleys to be sold to Chinese retailer in £100m deal

Toy retailer, Hamleys is expected to be bought by a Chinese retailer this week as President Xi Jinping’s trade visit brings a flurry of investment from China.

C.banner International Holdings, a Chinese footwear retailer, is expected to confirm a deal today to buy the 225-year old business for about £100m.

A statement on the Hong Kong Stock Exchange said the company was requesting the suspension of its shares pending the release of a major announcement relating to an acquisition.

China’s President Xi Jinping has visited the UK this week, sealing £40bn worth of trade deals, including an £18bn investment in the Hinkley Point nuclear plant and more than £2bn investment in healthcare across the country.

Hamleys, which is best known for its flagship store on Regent Street in London, has recently expanded across with the UK with new stores in Manchester and Glasgow.

This was posted in Bdaily's Members' News section by Ellen Forster .