Coupang (CPNG) has released an update to notify the public and investors about its asset transaction finalization.
Coupang, Inc., alongside Greenoaks Capital Partners, established Surpique LP to acquire Farfetch Holdings plc’s luxury fashion marketplace. Surpique LP secured a Transaction Support Agreement and a Bridge Loan Facility to fund the acquisition and support Farfetch’s business, later purchasing it through Surpique Acquisition. The acquisition involved amendments to Farfetch’s existing credit agreements, a substantial cash contribution by Surpique LP, and a repurchase offer for a portion of Farfetch’s term loans. Following these transactions, Coupang and Greenoaks own 80.1% and 19.9% equity in Surpique LP, respectively, with governance shared between them.
For further insights into CPNG financials, check out TipRanks’ Financials page.
For a comprehensive understanding of the announcement, you can read the full document here.
