(Adds details in paragraph 3-4; shares in paragraph 2)
Dec 18 (Reuters) -
South Korean e-commerce giant Coupang said on Monday it was planning to buy online luxury firm Farfetch Holdings .
Shares of Farfetch, which has a market capitalization of $226.7 million, were halted, while those of Coupang were down 2.7% in early trading.
Coupang made the deal with an investor group that held over 80% of the outstanding $600 million term loans. The deal would provide Farfetch with $500 million in capital.
Last month, the Telegraph reported that Farfetch founder and CEO José Neves was in talks with top shareholders, including Cartier-owner Richemont , to take the company private.
(Reporting by Savyata Mishra in Bengaluru; Editing by Anil D'Silva)
((Savyata.Mishra@thomsonreuters.com;))
Comments