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S.Africa's Foschini to buy British retailer Phase Eight -Bloomberg

Reuters - UK Focus

JOHANNESBURG, Jan 15 (Reuters) - South Africa's Foschini Group has agreed to buy British clothing retailer Phase Eight, Bloomberg News reported on Thursday, citing two sources familiar with the deal.

Foschini, which sells household goods and clothing, will pay about 300 million pounds ($455 million) for the retailer of women's apparel, Bloomberg said, citing one of the sources.

Phase Eight is owned by private equity firm TowerBrook Capital Partners.

No one was immediately available for comment at Foschini or TowerBrook. ($1 = 0.6596 pounds) (Reporting by David Dolan; Editing by David Goodman)