2.8 billion euro deal – Noerr advises on the formation and financing of the Global Fashion Group
The merger of the five leading online fashion trading companies to form the Global Fashion Group (GFG) – valued at 2.8 billion euro – has been successfully concluded. Under the auspices of the Luxembourg-based GFG, the world’s leading online fashion platform in emerging markets has been created and includes the market-leading online fashion retailers Dafiti (South America), Lamoda (Russia and CIS), Zalora (Southeast Asia), Namshi (Near and Middle East) and Jabong (India). The global group is assisted, among others, by a recently founded London service company. The European law firm Noerr was responsible for overseeing the legal aspects of the complex cross-border transaction, operating through its own offices (including Moscow) and in conjunction with several international best friends.
GFG operates with approximately 9,500 employees in 27 countries. Behind the group are around 100 investors from the listed companies Kinnevik and Rocket Internet. Further investors include Access Industries, Summit Partners and Ontario Teachers‘ Pension Plan. The investors Tengelmann and Verlinvest have also contributed an additional EUR 32 million in the form of a cash capital increase, thereby raising the overall value of GFG to EUR 2.8 billion.
The Noerr team led by Prof. Christian Pleister, Dr. Tobias Koppmann and Dr. Sascha Leske managed and coordinated the formation of GFG worldwide. “Due to the many parties and various jurisdictions involved, the formation of GFG is one of the most complex cases in recent years. Our team worked closely together with our best friends worldwide to successfully conclude this particularly challenging transaction right on target and with perfect timing”, said Christian Pleister.
Advisors to Global Fashion Group/Bigfoot: Noerr LLP
Prof. Christian Pleister (Frankfurt/Berlin), Dr. Tobias Koppmann (Munich), Dr. Sascha Leske (Berlin, joint lead, all Corporate)
Björn Paulsen (Berlin/Moscow), Dr. Stephan Schulz (Frankfurt), Silvia Sparfeld (Munich, all Corporate)
Associates: Veronika Bartram (Corporate, New York), Michael Brandl (Corporate, Munich) Alison Heinze (Berlin), Dr. Birthe Hericks (Munich), Dr. Roland Kühne, Violetta Piotrkowski, Lea Schäfgen, Michael Sturm, Philipp Takjas, Katie Tam-Schmick, Janine Telke, Dr. Laurenz Tholen (all Berlin, all Corporate), Dr. Christian Schützler (Corporate Frankfurt), Dr. Ethel Nanaeva (Corporate, Munich) , Dr. Timo Wilke (Tax, Berlin)