Hamleys toyshop sold with help from London firms
20th September 2012
Two private practices, one headquartered in London and one in the US, have helped to complete a deal in which the iconic Hamleys toyshop has been passed from majority Icelandic to French ownership.
The sale, which eventually cost the retailers Groupe Ludendo £60 million, was assisted by counsel from corporate partners with top lawyer jobs on both sides of the Channel and involved Landsbanki, a bank based in Iceland, selling the entirety of its 65 per cent share in the company, which has its flagship store on the capital’s Regent Street.
This latest move was deemed a necessary one as Landsbanki was placed into receivership in the midst of the financial crisis of 2008, and is currently in the process of selling off what remains of its assets around the world. The bank initially gained control of Hamleys after Baugar, an Icelandic retail outfit who purchased the chain in 2003, went into administration.