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Birmingham Post
Birmingham Post
Business
Jon Robinson

THG and SoftBank abandon $1.6bn deal over 'global macroeconomic conditions'

THG SoftBank SBM

A $1.6bn deal that would have seen Japanese investment giant SoftBank take a near 20% stake in a major division of THG has been abandoned.

It was announced in May 2021 that SB Management (SBM), a division of SoftBank, had bought an option to acquire a 19.9% holding in THG Ingenuity that valued it at $6.3bn.

It was also confirmed that SBM would also buy a $730m stake in Manchester-headquartered THG.

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