Burberry Group PLC (BRBY.LN), a global luxury company, said Tuesday it has completed the acquisition of 43 of 50 stores in China and related assets announced in July.

MAIN FACTS:

-The remaining seven stores are expected to be transferred over the coming months.

-Total purchase price is approximately GBP70 million in cash, subject to completion adjustments and the transaction is expected to add up to GBP20 million to group operating profit in financial year 2011/12.

-Shares closed Tuesday at 850 pence.

-By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; tommy.stubbington@dowjones.com
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