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UK's Next in discussion with Joules to acquire £15 mn stake
08 Aug '22
1 min read
Pic: John Williams RUS / Shutterstock.com
British lifestyle group Joules has confirmed that it is in discussions with Next Plc about a potential equity investment raising proceeds for Joules of £15 million at no less than Joules’ current market price, which would result in Next becoming a strategic minority shareholder in the Group. The investment would be subject to approval by Joules’ shareholders.
Joules provided the confirmation in response to recent media speculation.
The Group also confirmed that it is in talks with Next about adopting its Total Platform services to support its long-term growth plans.
“There can be no certainty these discussions will lead to any agreement. A further announcement will be made if and when appropriate,” the company said in its statement.
Fibre2Fashion News Desk (KD)
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