Department store chain David Jones sold to private equity firm

Department store chain David Jones will be back under Australian ownership, after being bought by a private equity firm.

Anchorage Capital Partners on Monday announced it would acquire the 185-year-old brand following an agreement with previous owners, South African-based Woolworths Holdings Limited.

Woolworths bought David Jones in 2014 for $2.1 billion, but neither group disclosed what the sale was worth.

The deal is expected to be completed by the end of March next year.

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