Leonard Green Takes $805M Topshop Stake As Chain Eyes US

Law360, New York (December 6, 2012, 2:07 PM EST) -- California private equity firm Leonard Green & Partners LP scooped up a quarter-share in women's clothing chain Topshop Ltd. from Philip Green for £500 million ($805 million), the British billionaire said Thursday, folding another well-known name into the outfit's robust retail portfolio.

The sale also includes a piece of the companion men's retailer, Topman Ltd., said Green, who helms U.K. fashion empire Arcadia Group Ltd. Neither party gave a financing breakdown for the deal, which Green said closed on Tuesday.

Green's decision to unload a piece...
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