Richemont’s takeover of Yoox Net-a-Porter completed
Richemont has announced the successful closing of its acquisition of all remaining ordinary shares in the Yoox Net-a-Porter (YNAP) Group. The Milan-headquartered online retailer is now on track to be de-listed from the stock market. The total value of the shares Richemont has acquired that they did not own equates around €2.8 billion and the takeover valued the entire group at €5.3 billion. Nearly 94 per cent of YNAP shareholders targeted by Richemont’s offer accepted the bid by its deadline. This means Richemont’s stake in the company is now just above 95 per cent.