Coupang Drops on Deal to Buy Farfetch, Provide $500m Bridge Loan

(Updates Coupang share-price move and adds analyst commentary.)

Coupangslides as much as 4.7% after the e-commerce company agreed to acquire the business and assets of Farfetch Holdings and provide the luxury retailer with $500 million of capital via a partnership with Greenoaks Capital Partners.

• Read more: Farfetch Finds Rescuer With $500 Million Loans From Coupang (1)
  • Existing Farfetch shareholders will be fully wiped out if the Coupang deal goes ahead
  • NOTE: Farfetch trading is halted
• Citi attributes Coupang’s negative share-price reaction to Farfetch’s gross merchandise value and Ebitda misses in 2Q and its later announcement that prior forecasts shouldn’t ...