The Hut Group strikes complex joint venture deal with SoftBank
by Rupert Neate Wealth correspondent from World news | The Guardian on (#5HP3Z)
Deal values yet to be formed' technology division of THG at $6.3bn
The Hut Group (THG), the online retailer empire run by billionaire Matthew Moulding, has struck a complex joint venture deal with Japanese investment giant SoftBank that values a yet to be formed" technology division of THG at $6.3bn (4.5bn).
The deal, announced on Monday, values THG Ingenuity, which Moulding described as a social media influencer platform" used to promote products, at about the same amount that the whole company floated at last year.
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