Baugur is set for UK move
- Published: 04 July 2008 10:24
- Author: Emily Seares
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- Last Updated: 04 July 2008 11:13
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Icelandic investment giant Baugur is expected to announce its intention to move to the UK today.
The move will allow executive chairman Jon Asgeir Johannesson to continue heading the company, which owns House of Fraser and Mosaic Fashions in the UK. It also has stakes in Moss Bros and French Connections.
The move follows the decision by the Reykjavik's supreme court last month to uphold a three-month suspended prison sentence for book keeping offences.
Baugur's move to the UK would see the company report in sterling for the first time.
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