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Chinese investors in talks to buy New Look

New Look’s private equity owners have held talks with one of China’s largest investors as they look to offload the high street chain.

Chinese conglomerate Fosun, which took a 5% stake in Thomas Cook in March, and Chinese private equity funds CDH and Citic Capital, have held high level meetings with New Look’s backers Apax and Permira, according to The Sunday Times.

The talks are said to be at a preliminary stage with an IPO as a back-up option.

China is one of New Look’s key growth markets and has 18 stores in the country as well as selling through Alibaba’s Tmall website.

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