boohoo.com plc Nasty Gal Acquisition Update (6011T)
January 09 2017 - 2:00AM
UK Regulatory
TIDMBOO
RNS Number : 6011T
boohoo.com plc
09 January 2017
For immediate release 9 January 2017
Nasty Gal Acquisition Update
boohoo.com plc
boohoo.com plc ("boohoo" or "the Group") announced on 28
December 2016 that it had entered into an asset purchase agreement
("the proposed transaction") to acquire certain intellectual
property assets and customer databases from retailer Nasty Gal Inc.
("Nasty Gal") for US$20 million. The Group confirms that the US
Bankruptcy Court has approved the process for the sale of the Nasty
Gal assets.
As previously announced, the proposed transaction will be
governed by a court approved bidding process. The closing date for
bids will be 2 February 2017. The Group's bid may not result in a
transaction if higher or more favourable offers are obtained by
Nasty Gal during the auction process.
If the Group is successful in acquiring Nasty Gal, the proposed
transaction will be subject to final approval by the US courts
expected on or around 8 February 2017. The Board believes the
proposed transaction has the potential to accelerate the Group's
international growth, particularly in the US, building on boohoo's
existing customer reach and product range across the globe.
Enquiries
boohoo.com plc
Neil Catto, Chief Financial Tel: +44 (0)161 233 2050
Officer Tel: +44 (0)7748 171236
Clara Melia, Investor Relations
Zeus Capital - Nominated
adviser and joint broker Tel: +44 (0)161 831 1512
Nick Cowles/Andrew Jones Tel: +44 (0)20 3829 5000
(Corporate Finance)
John Goold/Benjamin Robertson
(Corporate Broking)
Jefferies Hoare Govett -
Joint Broker Tel: +44 (0)20 7029 8000
Nick Adams/Max Jones
Buchanan - Financial PR
adviser Tel: +44 (0)20 7466 5000
Richard Oldworth/Madeleine boohoo@buchanan.uk.com
Seacombe/Jane Glover
About boohoo.com
"The voice and style of the social generation"
Keeping one step ahead of the trends or making a subtle style
change is easy with boohoo.com and with up to 100 new pieces
hitting the site every day and a new collection each week,
boohoo.com never stops - it is 24/7 fashion at its best. From the
UK's best kept fashion secret to one of the fastest growing
international retailers, boohoo.com has quickly evolved into a
global fashion leader of its generation. Combining cutting-edge,
aspirational design with an affordable price tag, boohoo.com has
been pushing boundaries since 2006 to bring its customers all the
latest looks for less.
www.boohoo.com www.boohoo.com/newz/page/home fr.boohoo.com
www.boohoo.com/europe/page/home www.boohoo.com/sweden/page/home de.boohoo.com
www.boohoo.com/usa/page/home www.boohoo.com/denmark/page/home it.boohoo.com
www.boohoo.com/canada/page/home www.boohoo.com/norway/page/home nl.boohoo.com
www.boohoo.com/aus/page/home es.boohoo.com
About Nasty Gal
Nasty Gal was founded in 2006 and is based in Los Angeles. Nasty
Gal today is recognised as a pioneer in both the curation and
design of women's clothing, shoes, and accessories. The Company has
a global presence in 180 countries and a social media following of
over 3.5 million. For more information, visit the website at
www.nastygal.com.
This announcement has been determined to contain inside
information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQOKFDDKBKBQDK
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January 09, 2017 02:00 ET (07:00 GMT)
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