April 9, 2018 / 8:18 AM / 14 days ago

BRIEF-French Connection Says Proposed Sale Of Toast To Bestseller

April 9 (Reuters) - French Connection Group PLC:

* PROPOSED SALE OF TOAST TO BESTSELLER

* ENTERED INTO AN AGREEMENT TO SELL ENTIRE ISSUED SHARE CAPITAL OF TOAST TO BESTSELLER UNITED A/S

* DEAL FOR GROSS PROCEEDS OF £23.3 MILLION

* NET CASH PROCEEDS ARISING FROM DISPOSAL WILL BE USED FOR GENERAL CORPORATE AND WORKING CAPITAL PURPOSES

* FRENCH CONNECTION OWNS 75 PER CENT AND SEATONS OWN 25 PER CENT OF ISSUED SHARE CAPITAL OF TOAST Source text for Eikon: Further company coverage:

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