TSX conditionally OKs Rhône's $632 mln investment in HBC
Canadian department store retailer Hudson’s Bay Co (TSX: HBC) said the Toronto Stock Exchange has conditionally approved the $632 million (US$500 million) investment in HBC by U.S. private equity firm Rhône Capital. The investment, announced last month, will give Rhône a voting and equity interest of 21.8 percent (or about 30 percent if the shares are held for eight years). Rhône will also have the right to nominate two board members. HBC said most shareholders have already approved the deal along with the company's US$850 million sale of the Lord & Taylor Fifth Avenue building.
8 November 2017•6 mins read
