M&As this week: GAEBB, AO World, LightInTheBox

16 November 2018 (Last Updated November 16th, 2018 13:15)

GAEBB has completed the acquisition of all Charles Vogele common stock and assets.

GAEBB has completed the acquisition of all Charles Vogele common stock and assets.

The transaction involves the transfer of remaining store inventory and merchandise, intellectual property, real estate, and certain other Charles Vogele assets.

A joint venture between Great American Group and Bebe Stores, GAEBB serves fashion brands that include clothes, accessories, and lifestyle.

A subsidiary of Sempione Retail AG, Charles Vogele is a retail store chain headquartered in Freienbach, Switzerland. The company has a worldwide fashion sales network.

AO World has signed a conditional agreement to purchase Mobile Phones Direct for $42.28m.

The cash-free, debt-free deal is subject to AO World shareholder approval, CMA investigation, and FCA approval of change of the MPD control.

The acquisition is scheduled for completion before March 2019 and aims to improve the mobile offerings of AO World, enabling the company to deliver a range of products and services from both companies.

AO World is an online electrical retailer operating in Europe, while Mobile Phones Direct is a British online mobile phones retailer.

LightINTheBox has agreed to acquire a 100% equity stake in Ezbuy Holding for $85.55m.

The purchase consideration includes non-interest bearing one-year convertible promissory notes with a conversion of approximately 22,220,779 American depository shares (ADS).

“AO World has signed a conditional agreement to purchase Mobile Phones Direct for $42.28m.”

The agreement is subject to certain customary closing conditions and the approval of ADSs listing by the NYSE.

LightInTheBox is a global leader in online retail business headquartered in Beijing, China.

Ezbuy Holding provides cross-border e-platforms catering to more than three million customers across East and south-east Asia.

Science in Sport Plc (SIS) has signed an agreement to acquire the entire issued share capital of PhD Nutrition Ltd (PhD) for £32m ($40.8m) on a debt-free and cash-free basis.

The deal will include a cash payment of £28.5m ($36.4m) and £3.5m ($4.4m) through the issue of 5,833,334 new ordinary shares to PhD at a price of £0.06 ($0.07) per consideration share.

Liberum Capital Ltd is the financial advisor to SIS for the transaction.

SIS offers gel, powdered drinks, bars, and training from nutrition experts, while PhD sells nutrition and health supplementary products.

Both companies are based in the UK.

Able C&C will acquire Mefactory for $28.51m.

Able C&C is a cosmetics manufacturer and seller, while Mefactory is a regular body care and cosmetics company.

Both companies involved in the transaction are based in South Korea.