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Mytheresa To Acquire YOOX NET-A-PORTER From Richemont In €555M Cash Deal, Issuing 33% Equity Stake To Form Global Multi-Brand Luxury Group

Author: Benzinga Newsdesk | October 07, 2024 02:42am

Richemont will sell YNAP to Mytheresa with a cash position of €555m and no financial debt, subject to customary closing adjustments
Mytheresa to issue shares to Richemont representing 33% of Mytheresa's fully diluted share capital
Richemont to provide a €100m revolving credit facility to YNAP
Closing of transaction expected in H1 2025, subject to customary conditions, including regulatory approvals
Transaction creates multi-brand digital group of significant scale, global reach as well as exceptional customer centricity

Posted In: MYTE