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MYT Netherlands Parent B.V. (“Mytheresa”) and Richemont sign agreement for Mytheresa to acquire YOOX NET-A-PORTER (“YNAP”) to create leading, global, multi-brand digital luxury group in exchange for a 33% equity stake in Mytheresa
MYT Netherlands Parent B.V. (“Mytheresa”) and Richemont sign agreement for Mytheresa to acquire YOOX NET-A-PORTER (“YNAP”) to create leading, global, multi-brand digital luxury group in exchange for a 33% equity stake in Mytheresa
• Richemont will sell YNAP to Mytheresa with a cash position of €555m and no financial debt, subject to customary closing adjustments
• Mytheresa to issue shares to Richemont representing 33% of Mytheresa’s fully diluted share capital
• Richemont to provide a €100m revolving credit facility to YNAP
• Closing of transaction expected in H1 2025, subject to customary conditions, including regulatory approvals
• Transaction creates multi-brand digital group of significant scale, global reach as well as exceptional customer centricity
• Richemont will sell YNAP to Mytheresa with a cash position of €555m and no financial debt, subject to customary closing adjustments
• Mytheresa to issue shares to Richemont representing 33% of Mytheresa’s fully diluted share capital
• Richemont to provide a €100m revolving credit facility to YNAP
• Closing of transaction expected in H1 2025, subject to customary conditions, including regulatory approvals
• Transaction creates multi-brand digital group of significant scale, global reach as well as exceptional customer centricity
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