Firms on major House of Fraser deal
17th April 2014
The firms leading on a major acquisition of a stake of retail giant House of Fraser have been announced as Linklaters, Simpson Thacher, King & Wood Mallesons SJ Berwin and Dickson Minto. The major 89 per cent stake is being acquired by China-based business group Sanpower through their subsidiary Nanjing Cenbest.
Corporate partner Simon Branigan and associate Kanyaka Ramamurthi were awarded the top London legal jobs of leading a team from Linklaters, who are advising House of Fraser on the £480 million sale.
The two lawyers recognise what a prolific deal the acquisition is, with Branigan stating in this article, “we understand that it’s the largest-ever Chinese outbound investment in the retail sector” and “part of the reason why the deal is making such a splash in the UK is because House of Fraser is so old and established”.
As a result of the deal, it is suggested that House of Fraser could open 50 or so stores across China as an addition to the 60 stores across the UK and Ireland, and one in Abu Dhabi.
Image Credit: James Petts (flickr.com)