Revolution Beauty India16 Aug 2023 19:10
As I said, It looks like Revolution Beauty have a website in India:-
https://revolutionbeauty.in
So have Boohoo brought in another corporate broker, HSBC, to buy Revolution Beauty? HSBC makes it three corporate brokers for Boohoo. Why have Boohoo brought in a third corporate broker?
Boohoo talked about net debt being £70m at their year end for 2024, i.e. 28 February 2024. I think the only way this would happen is with Boohoo buying all of Revolution Beauty.
Boohoo have a £325m revolving credit facility which they have drawn down in full, plus about £5m cash at year end for 2023, i.e. 28 February 2023.
This is a total of £330m plus Boohoo’s stated £70m net debt takes Boohoo to £400m availability for the year end 2024, i.e. 28 February 2024. This gives Boohoo plenty of money to buy all of Revolution Beauty at the present time.
Considering Boohoo already own nearly 90m Revolution Beauty Shares, Boohoo only have to buy approx 230m Revolution Beauty shares to own Revolution Beauty completely.
Also, according to Boohoo, they were looking at Indian wholesaling for Boohoo. Buying all of Revolution Beauty gives Boohoo access to Revolution Beauty’s Indian website.
Please do correct anything you think I may have got wrong.
And no, I’m not back.
Always do your own research.