Los Angeles -- Multiple reports on Tuesday said that British billionaire and Topshop owner Sir Philip Green is negotiating with Leonard Green & Partners to sell a 25% stake in the TopShop and Topman chains.
The two brands, which would be broken off from Philip Green’s other Arcadia Group retail holdings, are valued at $1.61 billion. An announcement is expected as early as Thursday.
Neither Philip Green nor Leonard Green has commented directly on the impending transaction.