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Largest Nordic toy retailer to sell 75 pct stake to Swedish private equity group

Xinhua, November 2, 2015 Adjust font size:

Denmark's TOP-TOY, the largest retailer and wholesaler for children's toys and related products in Northern Europe, announced Monday it agreed to sell 75 percent of its stake to the Swedish private equity group EQT.

The sale agreement is in place and the deal would be worth about 1.7 billion Danish kroner (about 250 million U.S. dollars), according to Danish newspaper Berlingske.

TOP-TOY said the transaction is subject to approval by competition authorities and the new partnership is expected to take effect in January 2016.

Headquartered in Tune, Denmark, TOP-TOY has been operating as a family-owned business since 1963. It is represented in Denmark, Sweden, Norway, Finland, Iceland and Germany, through different sales channels including toy chain BR and Toys "R" Us.

It had a turnover of 3.4 billion kroner in the 12 months ending June 30, 2015. (1 U.S. dollar = 6.774 Danish kroner) Endit