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UK’s Next to partner with investors to buy JoJo Maman Bebe


UK's Next to partner with investors to buy JoJo Maman Bebe - BBCBritish clothing retailer Next PLC and a group of investors led by hedge fund Davidson Kempner will buy baby goods retailer JoJo Maman Bebe, the BBC reported on Sunday.

The report said Next had taken 44% of the firm’s shares with the remaining 56% bought by investment firms managed or advised by Davidson Kempner.

Under the deal, there will not be any immediate job losses at the company with the exception of its founder Laura Tenison, who will leave JoJo Maman Bebe, the report added.

The report said Next would invest 16.3 million pounds into the brand but that the valuation of the JoJo Maman Bebe sale was not clear.

Next did not immediately respond to a Reuters request for comment.

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