Asos has sold a majority stake in Topshop and Topman brands
Online fashion giant Asos has today announced a new joint venture with Heartland, the holding company of Danish fashion retailer Bestseller, to sell a majority stake in the Topshop and Topman brands.
Asos said in a statement published to the City this morning that, after a “competitive sale process”, it has entered into an agreement in which Heartland will hold a 75% interest in the venture in a deal worth £135m.
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