Qurate Retail sells Zulily to Regent
May 24, 2023 5:44 PM ETQurate Retail, Inc. (QRTEA), QRTEBBy: Ahmed Farhath, SA News Editor7 Comments
Qurate Retail (NASDAQ:QRTEA) said Wednesday that it has sold Zulily to LA-based investment firm Regent.
Zulily will no longer be a co-borrower in QVC’s bank credit facility.
Qurate Retail said it repaid Zulily’s outstanding borrowing, which was about $80 million as of closing.
The company said there is potential for it to receive an earnout in future years based on the terms of the sale agreement.
Other transaction details were undisclosed.