Topshop Stake Sale Agreed By Sir Philip Green

Retail tycoon Sir Philip Green has confirmed the sale of a 25% stake in his Topshop and Topman chains for £500m.

The move, which was exclusively revealed by Sky's City Editor Mark Kleinman on Tuesday, values the two high street brands at £2bn.

Kleinman said the sale added credence to Sir Philip's ambition of becoming a global retail magnate as it was aimed at funding an expansion programme.

The buyer of the stake is Leonard Green & Partners, one of the joint owners of the American clothing business J Crew.

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