The approval comes seven months after the U.K. Competition and Markets Authority approved the transaction, which was first announced in August 2022.As reported, YNAP’s parent Compagnie Financière Richemont plans to sell a majority stake in Yoox Net-a-porter Group to Farfetch and Alabbar, YNAP’s partner in the Middle East.
In exchange, Richemont will receive Farfetch shares, expected to represent 12 to 13 percent of Farfetch’s issued share capital. The two partners have said they plan to work together to accelerate the quality and global penetration of the Richemont brands online. The wheels of the deal are already in motion: In the first six months of fiscal 2023, Richemont reported a loss of 766 million euros following the noncash write-down of assets linked to the proposed sale of a majority stake in YNAP.
He said the plan is to continue building brand equity at the company’s luxury maisons without having to worry about running a digital business.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nintendo Boss Comments on Microsoft Relationship Following Leaked Acquisition EmailNintendo of America president Doug Bowser says the company's relationship with Microsoft remains 'great.'
Source: ComicBook - 🏆 65. / 68 Read more »
University of Michigan slithers toward history with massive acquisition of jarred snake specimensThe University of Michigan Museum of Zoology recently acquired tens of thousands of reptile and amphibian specimens, including many snakes
Source: sdut - 🏆 5. / 95 Read more »
University of Michigan slithers toward history with massive acquisition of jarred snake specimensThe University of Michigan Museum of Zoology recently acquired tens of thousands of reptile and amphibian specimens, including many snakes. Research collections manager Greg Schneider estimates the new material donated by Oregon State University contains around 30,000 snakes.
Source: AP - 🏆 728. / 51 Read more »
University of Michigan slithers toward history with massive acquisition of jarred snake specimensThe University of Michigan Museum of Zoology recently acquired tens of thousands of reptile and amphibian specimens, including many snakes.
Source: ksatnews - 🏆 442. / 53 Read more »
University of Michigan slithers toward history with massive acquisition of jarred snake specimensThe University of Michigan Museum of Zoology recently acquired tens of thousands of reptile and amphibian specimens, including many snakes.
Source: wjxt4 - 🏆 246. / 63 Read more »