August 19, 2019 / 12:57 PM / 4 months ago

Catalyst Capital to buy about 10% stake in Hudson's Bay

Aug 19 (Reuters) - Private equity firm Catalyst Capital Group Inc said on Monday it will buy about 10.05% stake in Hudson’s Bay Co as it looks to block Executive Chairman Richard Baker’s C$1.74 billion proposal to take the company private.

Catalyst said it would buy 18.5 million shares and that it would complete the cash purchase in three business days.

Reporting by Shanti S Nair in Bengaluru

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