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Hudson's Bay in talks on JV, not sale, with European retailer Signa Holding

Published 07/06/2018, 01:57 PM
Updated 07/06/2018, 01:57 PM
© Reuters.  Hudson's Bay in talks on JV, not sale, with European retailer Signa Holding
  • Hudson's Bay (OTCPK:HBAYF -1.2%) is lower after saying it has not made an agreement to sell or combine its European business or properties, but rather was negotiating a potential European joint venture.
  • The retailer was responding to a WSJ article earlier this week that the retailer would sell half of its Europe operating company to Signa Holding for more than $1B.
  • While it says it does not typically comment on market speculation, "in light of recent media reports, HBC believes it is prudent to advise stakeholders that it is in discussions with Signa Holding and has signed a non-binding letter of intent with respect to the exploration of a potential joint venture," the company said in a statement.
  • Now read: Hudson's Bay: Q1 2018 Results Are Improved, But Still Mixed


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