UK’s The Hut Group acquires €1 billion to fund expansion

16.12.2019 - Evdokimov Roman
UK’s The Hut Group acquires €1 billion to fund expansion

UK’s The Hut Group acquires €1 billion to fund expansion

British online retailer, The Hut Group (THG) said it had raised €1 billion ($1.10 billion) to help fund expansion amid macro-economic and political changes from Brexit and the general election.

The new capital of a €600 million term loan, a five-year £150 million ($192.45 million) credit facility, and a £200 million package provided to a new THG subsidiary according to the company.

THG said also said it raised about £66 million of primary equity from BlackRock Inc and Belgium-based investment company Sofina SA in order to help the company raise its beauty and wellness brands as well as e-commerce platform called Ingenuity.

The capital will also be used for development of content studios and offices at Manchester Airport.

The fund raise comes after British Finance Minister Sajid Javid said last week that investors were putting money into the United Kingdom after Prime Minister Boris Johnson’s landslide victory in the elections which cleared way for Brexit next month.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from Umarkets.com or Market Solutions limited." Cookies notification: “We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Continue
×

Help with deposit?