Reliance Retail in talks over Hamleys buyout

Source: insideretail, Friday, Apr 19, 2019

Reliance Retail is in the final stages of negotiations with C.Banner International, which has been trying to find a buyer for Hamleys since last October, after three years of ownership. China’s C.Banner bought the business in 2015 for USD130 million but has struggled to produce a profit. Reliance Retail will reportedly pay between USD36-50 million, representing a substantial loss for C.Banner on exiting the brand.