Asos Co-Founder To Sell 1.3 Million Shares Of Online Retailer To Fund Divorce Settlement

by MR Magazine Staff

One of the founders of Asos is selling a chunk of his shareholding in the online fashion retailer to fund his £70m divorce settlement. The company announced that Nick Robertson, who stepped down as chief executive last year, wished to sell 1.3m shares through a placing with institutional investors. The share disposal plan, revealed after the stock market had closed, would raise £46.4m based on the closing price of £35.71. Earlier this year, Robertson was ordered to hand about a third of his £220m fortune to his ex-wife Janine after a public trial in the family division of the high court. The judge was asked to decide how much she should receive after the couple failed to agree on the division of shares and property owned by the entrepreneur. The hearing revealed the couple had a property portfolio worth nearly £60m, with homes in London, Oxfordshire and France, as well as cars – including a Mercedes, Bentley and Ferrari – and boats worth about £2m. Read more at The Guardian.