Summary
75% of the world's population is made up of people who live in the United States. The majority of the population lives in the U.S.
The deal is expected to be completed in the next six months. The deal will give ASOS certain design and distribution rights for the Topshop and Topman brands.
ASOS has sold a 75% stake in the Topshop and Topman brands to in a new joint venture deal with Heartland A/S. The deal will net ASOS around £118 million in cash.
ASOS purchased the Topshop and Topman brands in 2021 for £265 million. Heartland indirectly hold a 75% stake in the new joint venture.
Heartland indirectly owns 28% of ASOS's shares and is considered "a related party" under the Listing Rules. The deal is subject to regulatory approval and is expected to complete in Q4 of this year.
