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The Hut Group Raises €1 Billion

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The Hut Group / via Facebook

British online beauty retailer The Hut Group (THG) has reportedly raised €1 billion in capital. 

According to a Sky News article, Belgian investor BlackRock, which previously invested in THG and Sofina, has injected £66m in new equity to aid THG's expansion. The €1 billion-plus capital-raising is intended to transform THG's balance sheet.

The article also stated that the new financing will be provided alongside a new €600m (£501m) capital market term-loan; a five-year £150m revolving credit facility provided by lenders including Barclays and HSBC; and a £200m package provided to a new THG subsidiary comprising the company's substantial property assets.

For the full article, please visit news.sky.com.