April 17 (Reuters) – British clothing chain Next and a group of investors led by hedge fund Davidson Kempner are to buy maternity and babywear specialist JoJo Maman Bb, the BBC reported on Sunday.
According to the British media, Next took 44% of the capital of the company while the remaining 56% were bought by investment companies managed or advised by Davidson Kempner.
The plan does not foresee any job cuts in the immediate future, with the exception of that of the founder Laura Tenison who will leave JoJo Maman Bb, adds the BBC.
According to the media, Next will invest 16.3 million pounds sterling (19.7 million euros) in the brand, whose valuation during the transaction was not clear.
Next was not immediately available to comment. (Nishit Jogi Bengalore, Gilles Guillaume for the French version)