The North America turnaround specialist is looking to list The Bay, the company’s retail operations in Canada, on the Toronto Stock Exchange in October or November.
The listing would value Hudson Bay & Co – North America’s oldest company – at about C$1.5bn.
The Wall Street Journal reported the news, citing unnamed sources.
The listing would follow NRDC’s sale of 220 stores belonging to Hudson Bay subsidiary Zellers in January last year, which were sold to Target Corp for C$1.82bn ($1.84bn).
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