[BEIJING] Chinese footwear retailer C.banner International Holdings said on Thursday it would buy iconic British toy store chain Hamleys for £100 million (US$153 million) in cash.
Hamleys, most famous for its 134-year-old flagship store on Regent Street in London, offers quintessentially British toys such as Beefeater Bear dolls and miniature London taxi cabs.
C.banner announced earlier this week that it was in talks to buy Hamleys from France's Ludendo Groupe, which has owned the chain since 2012.
The announcement comes a week after the conclusion of Chinese President Xi Jinping's three-day visit to the UK.
The trip featured the signing of a raft of business deals worth a total £40 billion (US$61 billion).