£38M FEES BONANZA

BANKERS, lawyers and other advisers will rake in more than £38m in fees from the bumper £5.4bn float of lifestyle site The Hut Group.

The jam-packed payroll includes big-name investment banks Citigroup, JP Morgan, Barclays and Goldman Sachs. The online retailer has also lined up HSBC, Jefferies and Numis as bookrunners for the listing, while its financial adviser is Rothschild. Clifford Chance, Hut’s legal adviser, will also be in line for the payday bonanza.

Hut revealed in documents that it had earmarked £38.4m for advisory fees. City commentators have described the float as ‘another banker buffet’.