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RAPAPORT... Private equity firm 3i Group purchased the Christ jewelry stores from retailer Douglas and its equity partner Advent. The deal was reportedly worth $510 million (EUR 400 million), including debt. Insiders told Reuters that 3i is investing $273 million ($214 million) in the jewelry chain. Christ's annual revenue was reported at about $508 million for the latest fiscal year, it employs 2,400 and operates 220 stores.
Douglas sold the jeweler to focus on its core retail business of beauty and perfumes. The sale is subject to regulatory approval.
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