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South African goes on safari in Britain as Brait buys New Look

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South African goes on safari in Britain as Brait buys New Look

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One of the British high streets’ biggest names New Look has been hunted down by South African investment heavyweight Brait.

The chain has 600 shops in Britain and Ireland with a further 200 in Europe, North Africa, the Middle East, and Asia including China.

The deal gives Brait virtually all of New Look for a snip over a billion euros and is the group’s second big deal in a month following its snaring of the fitness chain Virgin Active.

New Look’s founding family and management will retain a 10% share. The company is carrying nearly 1.4 billion euros of debt.