# boohoo.com plc Nasty Gal Acquisition Update

- Link: https://www.directorstalkinterviews.com/boohoo-com-plc-nasty-gal-acquisition-update/412720222
- Published: 2017-01-09T07:43:07+00:00
- Author: Giles Arbor

**[boohoo](https://www.directorstalkinterviews.com/company/boohoo/boo.l).com plc**(
LON:BOO) announced on 28 December 2016 that it had entered into an asset purchase
agreement (“the proposed transaction”) to acquire certain intellectual property 
assets and customer databases from retailer Nasty Gal Inc. (“Nasty Gal”) for US$
20 million. The Group confirms that the US Bankruptcy Court has approved the process
for the sale of the Nasty Gal assets.

As previously announced, the proposed transaction will be governed by a court approved
bidding process. The closing date for bids will be 2 February 2017. The Group’s 
bid may not result in a transaction if higher or more favourable offers are obtained
by Nasty Gal during the auction process.

If the Group is successful in acquiring Nasty Gal, the proposed transaction will
be subject to final approval by the US courts expected on or around 8 February 2017.
The Board believes the proposed transaction has the potential to accelerate the 
Group’s international growth, particularly in the US, building on boohoo’s existing
customer reach and product range across the globe.
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