Brait

The agreed debt-for-equity swap proposal will reduce its long-term debt by £1 billion.

BoF compiles the most important professional moves of the week.

Amid a lack of acquisition opportunities on its home continent, Brait followed the likes of retailers The Foschini Group Ltd. and The Spar Group Ltd. in bypassing the potential of Africa’s growing middle class and targeting European consumers instead.

Brait SE agreed to purchase about 90 percent of New Look Group Ltd., the UK’s second-biggest retailer of women’s clothing, for about 780 million pounds ($1.2 billion).