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Softbank sells entire THG stake following end of investment deal

1 month ago   |   By Fashion United

Image: The Hut Group
Japanese investment giant Softbank has sold its entire stake in British retail group THG at a loss of 450 million pounds after the two announced the end of an investment deal in July.
THG said Monday that Softbank has agreed to sell 67.8 million shares to Qatar's sovereign wealth fund, and 12.8 million shares to THG chief executive and founder Matthew Moulding.
Shares in THG, which owns a portfolio of online fashion, beauty, and wellness brands, were up more than 10 percent on Tuesday following the news.
It marks the end of a complicated and short-lived relationship...
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