Explainer: Asos finally makes its move with Topshop, but is it the right one? [Yahoo! Finance]
ASOS PLC UNSP/ADR (ASOMY)
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Source: Yahoo! Finance
including Bestseller, which will see the two acquire the Topshop and Topman brands in a 75:25 split in Heartland's favour. Asos said Heartland's 75% stake is worth £135m ($177.69m). Asos Holding Limited will retain the 25% and the right to sell a further 5% interest to the Heartland Shareholder for £9m. The £118m net cash consideration for Asos – which comes after fees, and pro-rata payment to Nordstrom International Limited ("Nordstrom") of its share of the consideration – will be used by Asos to strengthen its balance sheet. It's close to a year since Asos was rumoured to be considering plans to offload Topshop which it had acquired together with Miss Selfridge and HIIT brands for a cash consideration of $321m in 2021 following the collapse of Phillip Green's UK High Street Empire, Arcadia. Asos transitioned the brand into an online offering only. And, it had become one of its top performers. However, analysts criticised Asos for not “doing much” with the brand. And this w
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