China's Sanpower to buy UK's House of Fraser - source
The 160-year-old House of Fraser, which trades from 61 stores in Britain and Ireland and has annual sales of about 1.2 billion pounds, had been running a dual track sale process - looking for potential buyers while also considering a possible initial public share offer.
Talks about a sale to French counterpart Galeries Lafayette ended in January.
House of Fraser declined to comment on the deal and Sanpower Group could not immediately be reached for comment.
(Reporting by Neil Maidment; editing by James Davey)
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