UK's M&S expands in eastern Europe with COMS deal

LONDON, March 20 (Reuters) - Britain's biggest clothing retailer Marks and Spencer (MKS.L) said it had taken a majority stake in eastern European retailer COMS to help it expand into the Czech Republic, Slovakia, Latvia, Lithuania and Estonia.

M&S said on Thursday it had bought a 51 percent stake in COMS for 13.6 million euros ($21.38 million) with a target-based 5.2 million euros future payment also agreed as part of the deal.

The retailer, which plans to grow its international business to bring in 15-20 percent of group revenues within the next five years, said the joint venture would open around 30 stores over the next few years.

(reporting by Marc Jones)