Simpson Thacher Represents KKR as Selling Shareholder In Connection With the IPO of The Hut Group
11.11.20
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Simpson Thacher represented KKR Gym (Cayman) Limited (“KKR Gym”), a company indirectly owned by funds affiliated with KKR, as a selling shareholder in connection with the initial public offering of THG Holdings plc (“The Hut Group”) on the London Stock Exchange and the primary and secondary offering of 376,273,998 ordinary shares. Based on the offer price of 500p per share, the total offer size amounts to approximately £1.88 billion, with an indicative market capitalisation of The Hut Group of approximately £5.4 billion at the commencement of conditional dealings on the Main Market of the London Stock Exchange. KKR Gym exited The Hut Group in connection with the IPO.
The Hut Group is a vertically integrated digital-first consumer brands group, powered by THG Ingenuity, its proprietary end-to-end e-commerce technology and operating platform. THG Beauty is a leading digital-first brand owner, retailer and manufacturer in the prestige beauty market, combining THG’s prestige portfolio of seven owned brands across skincare, haircare and cosmetics with the provision of a global route to market for over 850 third-party beauty brands through its portfolio of websites. THG also has lifestyle and nutrition businesses.
The Simpson Thacher team included Amy Mahon, Deborah Harris, James Campisi, Marie-Eve Nault-Cloutier and Laura Harris (Corporate); and Yash Rupal, William Smolinski and Joseph Tootle (Tax).