Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

UK's THG to raise $1 billion; SoftBank unit to fund large portion

Published 2021-05-10, 06:40 p/m
© Reuters.

(Reuters) - THG Plc is raising $1 billion in fresh capital, including about $730 million from a unit of SoftBank Group, and the remainder from other investors, the UK-based consumer brands company said on Monday.

SoftBank's unit SB Management will also sign an option agreement with THG Ingenuity, which is yet to be formed, THG said in a statement.

The ecommerce retailer added that the agreement with THG Ingenuity will be for a $1.6 billion investment, implying an enterprise value of $6.3 billion for a 19.9% equity interest.

THG Ingenuity, which will be owned and controlled by THG, will be required to be a separate legal entity, the statement said, adding that the process of the unit's formation has already commenced. (https://

Separately, THG said on Monday that it will buy Bentley Laboratories LLC, a New Jersey-based prestige beauty developer and manufacturer, for $255 million.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.