The e-commerce group Coupang Inc. announced on Wednesday the completion of the takeover of the ailing British online fashion retailer Farfetch, which was agreed in December.
The company has completed the acquisition of the assets of Farfetch Holdings Plc, it said in a brief statement. Bondholders from Farfetch had resisted the transaction, which Coupang carried out together with the investment partner Greenoaks Capital Partners LLC, until the very end.
Coupang reiterated its commitment to provide Farfetch with access to $500 million (€462 million) in fresh capital. In addition, after the takeover, the online retailer can rely on Coupang’s “operational excellence and innovative logistics” and is therefore “well positioned for steady and well-considered growth”.