June 16, 2014 / 6:21 AM / 3 years ago

Bestseller to buy M and M Direct for up to 140 mln stg

LONDON, June 16 (Reuters) - M & M Direct Ltd, the online and mail order retailer, said on Monday it had signed a definitive agreement to be acquired by Danish fashion group Bestseller for up to 140 million pounds ($235 million).

Britain’s M and M has been owned by global private equity firm TA Associates since 2007. Bestseller is owned by Danish fashion store magnate Anders Holch Povlsen.

M and M said the sale is contingent upon standard regulatory clearance and is expected to be completed within eight weeks.

$1 = 0.5956 British Pounds Reporting by James Davey; editing by Kate Holton

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