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Boohoo Comples £16 Million Nasty Gal Deal

Manchester-headquartered online fashion retailer Boohoo.Com PLC (LON:BOO) has completed the $20 million (£16.1 million) acquisition of assets from LA-based counterpart Nasty Gal, which filed for bankruptcy last November.

The AIM-listed company has informed investors that it has completed the purchase of certain intellectual property assets and customer databases from Nasty Gal. The £16.1 million deal will be financed through a combination of the group’s existing cash resources and a new bank debt facility of £12 million.

Nasty Gal is expected to be consolidated into the group from 1 March 2017.

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