Asos divests majority stake in Topshop and Topman [Yahoo! Finance]
ASOS PLC UNSP/ADR (ASOMY)
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Source: Yahoo! Finance
The agreement will see Heartland holding a 75% interest in the venture for £135m ($177m), with ASOS retaining a 25% stake. The strategic move is expected to impact Asos's earnings before interest, taxes, depreciation and amortisation negatively by between £10m and £20m in the fiscal year 2025 (FY25) but is anticipated to become increasingly accretive over time. The transaction, which values the TSTM brands at £180m, is subject to antitrust approvals and set for completion in the fourth quarter (Q4) of 2024. Asos Holdings Limited (AHL) reserves the right to sell an additional 5% interest to Heartland for £9m. Asos will obtain design and distribution rights for the brands, ensuring their continued online presence. The board of Asos has expressed unanimous support for the transaction, citing the benefit to customers and alignment with the company's Back to Fashion strategy. The sale is also expected to strengthen Asos' balance sheet while allowing it to participate in the fu
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