Al-Futtaim, which already operates 72 M&S stores across 11 markets in Asia and the Middle East, purchased 27 shops in the deal, which completed on Dec. 30, M&S said.

The move follows a strategic review by M&S in November 2016, in which the company laid out plans to shut more than 80 stores at home and abroad as well as to seek joint ventures and franchise partnerships.

(Reporting by Paul Sandle; Editing by David Goodman)