Richemont, FARFETCH Receive Antitrust Clearance For Partnership - Quick Facts

(RTTNews) - Richemont announced that the European Commission has unconditionally cleared the acquisition by FARFETCH (FTCH) of a 47.5% stake in YOOX NET-A-PORTER in exchange for the issuance of FARFETCH Class A ordinary shares to Richemont. The company noted that the EC was the last regulatory authority required to provide clearance. Completion remains subject to certain other conditions.

The partnership also involves: the acquisition by Symphony Global of a 3.2% stake in YNAP; the adoption by YNAP and the Richemont Maisons of FARFETCH Platform Solutions and; the launch of e-concessions on the FARFETCH Marketplace by most Richemont Maisons.