British department store chain House of Fraser reportedly expects to be listed by the end of the year. House of Fraser however remains in exclusive talks regarding a potential takeover by its French counterpart Galeries Lafayette.
Reuters, citing an earlier report by Times of London, quoted House of Fraser chief executive officer John King saying that his company kicked off the initial public offering before Christmas. The department stores group expected a listing before the end of 2014, King said.
King refused to talk about negotiations with Galeries Lafayette and added that House of Fraser remained focused on the IPO, the report said. Terms of the possible deal were not disclosed.
160-year-old House of Fraser has spent almost 10 years under private ownership. But the department store chain has been considering a return to the stock market after previous attempts at a potential trade sale failed, Reuters said.
House of Fraser on Thursday said that a surge in online sales had helped it to its best ever Christmas trading period, the report stated.
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