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Danish billionaire Anders Holch Povlsen has lost three of his four children in the Easter Sri Lanka bomb attacks.
The children's names have not been made public, but a spokesperson for Mr Holch Povlsen's clothing company, Bestseller, confirmed the news.
Speaking to the BBC, the spokesperson said: "Unfortunately, we can confirm the reports. We ask you to respect the privacy of the family and we therefore have no further comments."
Mr Holch Povlsen owns Bestseller, a sustainable clothing chain which is the home of well-known brands such as Jack & Jones and Vera Moda. He is also the biggest shareholder in ASOS, as well as the UK's biggest private landowner.
The majority of his property is in Scotland, where he owns a dozen estates with the hope of preserving the natural beauty of the highlands.
Describing it as a large-scale conservation project, the website for the 'Wildland' project says: "From our home at Glenfeshie, both Anne and myself - our children and our parents too - have long enjoyed a deep connection with this magnificent landscape."
The news comes after authorities in Sri Lanka confirmed that the original death toll of the attacks has doubled, with around 290 people now confirmed dead.
A further 500 have been injured in the blasts, which hit a number of locations across the island over the Easter weekend, with the capital Colombo affected heavily.
Easter Sunday church services, hotels and public areas were all targeted in the eight attacks, with police confirming the final blast was a suicide bomb.
The country's finance minister, Mangala Samaraweera, has said the bombings were an attempt to drag Sri Lanka back into a civil war.
He called the attacks 'a diabolic attempt to create racial and religious tensions in this country yet again, thereby pulling the country backwards just as we as a country - economically, socially and otherwise - are recovering from the protracted war which destroyed the fabric of our nation for nearly 30 years'.
At a press conference on Sunday evening, Sri Lankan Prime Minister Ranil Wickremesinghe said the focus of the authorities remains on finding the people who committed the atrocities.
He said: "We must look into why adequate precautions were not taken. Neither I nor the Ministers were kept informed.
"For now the priority is to apprehend the attackers."
At the moment, 24 people have been arrested in connection with the attacks, but as yet no group has come forward claim responsibility.
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