LONDON, March 10 (Reuters) - British clothing retailer Next
has agreed to acquire a 25% stake in upmarket smaller
rival Reiss and has an option to take its holding to 51%, it
said on Wednesday.
Next said it will pay 33 million pounds ($46 million) for
the equity and also make a debt investment of 10 million pounds,
financed from its cash resources.
The group has an option to acquire an additional 26%
interest at pre-agreed terms. The option falls away after July
2022.
($1 = 0.7200 pounds)
(Reporting by James Davey; Editing by Kate Holton)
Next (NXT)
