Sir Philip Green with customers in Topshop
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Philip Green sells 25% stake in Topshop

The owner of Topshop, Sir Philip Green, has announced he is to sell a 25% stake in Topshop and Topman, for £500 million.

The buyer is the American private equity firm Leonard Green & Partners, which owns brands such as J Crew, Neiman Marcus and Whole Foods.

Neil Saunders, a Consulting Director at Conlumino, explains the significance of the deal.