Apr 10, 2019
US investor sells Topshop shares back to Sir Philip Green
US investor Leonard Green has sold its 25% stake in retailers Topshop and Topman back to Sir Philip Green's Arcadia retail empire. The sale has also raised hopes it may prompt Sir Philip to repair a hole in the Arcadia pension fund. Once again, Sir Philip finds himself toe-to-toe with the pensions watchdog. Once again, the Pensions Regulator finds itself in the unenviable position of having to play off competing interests, keeping the sponsor of the pension scheme on a sustainable business footing while ensuring pension scheme members are protected. Investors had hoped the deal would help it expand in the US. "LGP sold the stake in TSTM back to Arcadia for an undisclosed sum and said in a statement:"The transfer simplifies the shareholding structure of Topshop Topman and enables the Arcadia board to focus on the restructuring options being considered.
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