Noteholder group mobilizes to challenge Coupang deal to buy Farfetch
The 2027 Ad Hoc Group (the Group) announced today it has formed to explore options over the proposed acquisition of the Farfetch business by Coupang.
- The 2027 Ad Hoc Group (the Group) announced today it has formed to explore options over the proposed acquisition of the Farfetch business by Coupang.
- As a first step, Group members have declared a default under the 2027 Notes and accelerated those Notes, so they are immediately due and payable in full.
- As such, the Group is seriously concerned by the rapid and unexplained deterioration in the financial position of Farfetch between August and December 2023.
- “The Group believes this process sets an incredibly dangerous precedent,” said a spokesperson for the 2027 Ad Hoc Group.