Sir Philip Green is on the verge of selling a 25% stake in his Topman and Topshop empire to boost his plans for overseas expansion.
The deal, with US private equity house Leonard Green & Partners, is expected to be announced as early as tomorrow and could net the billionaire retailer £250 million.
Although Sir Philip, pictured, declined to comment, analysts put the value of the whole empire at around £1 billion. The cash injection in return for a sale of the chunk of the company would enable Sir Philip to quickly expand a business in which he has invested huge amounts of time, money and faith.
There are now Topshop outlets in far-flung places such as Sydney, Melbourne, New York and Las Vegas.
Sir Philip is expected to open a store in Los Angeles next year, and he is also thought to be eyeing China and the wider Asian market.
