€ 1bn transaction: Noerr advises on reorganisation of online shopping portal Lazada
Noerr has advised the online shopping portal Lazada on the now successfully completed reorganisation of the company which is valued at € 1 billion. More than 20 investors, including Rocket Internet, Tesco, Temasek, Kinnevik and Access Industries, have bundled their shareholdings in the leading Southeast Asian shopping portal in the Luxembourg-based Lazada Group S.A.
Lazada today has 55 million visitors per month and is active in Indonesia, Malaysia, Singapore, Thailand, Vietnam and the Philippines. The investors have already invested more than € 500 million since its launch in 2012.
This complex cross-border transaction with more than 20 parties who all had their own legal advisors required significant logistical efforts. The reorganisation involved a large number of company law measures, both in Germany and in Luxembourg, which were all agreed in a Roadmap Agreement concluded between the various parties. In spite of the high complexity and the large number of steps required, it was possible to complete the reorganisation within less than five months.
Advisors to Lazada: Noerr LLP
Prof. Dr. Christian Pleister (Lead, Frankfurt/Berlin), Dr. Sascha Leske (Berlin), Silvia Sparfeld (Munich, all Corporate)
Dr. Laurenz Tholen (Berlin), Veronika Bartram (New York), Alison Heinze, Dr. Roland Kühne (both Berlin), Violetta Piotrkowski (New York), Lea Schäfgen (Berlin), Dr. Christian Schützler (Frankfurt), Michael Sturm, Janine Telke, Karoline Woznicki (all Berlin, all Corporate)