Noerr advises Zalando on takeover of Bread & Butter fashion fair
The leading international law firm Noerr has been assisting Zalando in diversifying its business model: a Noerr team led by partner Prof. Dr. Christian Pleister is advising the MDax company on the takeover of the Berlin fashion fair Bread & Butter. Zalando is acquiring the operating company of the trade fair under an insolvency plan procedure. The creditors have unanimously approved the insolvency plan today, and the insolvency proceedings are expected to be terminated soon.
In December of last year, Bread & Butter filed for insolvency, and Christian Graf Brockdorff was appointed as insolvency administrator.
Noerr has advised Zalando comprehensively on the takeover, especially on corporate and insolvency law as well as tax aspects of the transaction. In addition, Noerr Consulting performed the financial due diligence. Zalando regularly relies on Noerr’s advice on transactions and corporate law matters, such as in connection with the investment made in Zalando by the largest Canadian pension fund, Ontario Teachers’ Pension Plan (OTPP), as well as in the run-up to Zalando’s initial public offering.
Noerr is among Europe’s leading law firms in the areas of Distressed M&A as well as advice to e-commerce companies. Since 2009, Noerr has assisted in some 70 successful corporate rescues, acting for insolvency administrators, investors and banks, including, most recently, in the investment of a strategic investor in the leading river cruise operator nicko cruises, as well as the joint venture Alteri of the investor Apollo on the takeover of the mail-order group Walz. In the area of e-commerce, Noerr recently advised the leading British venture capital investor Scottish Equity Partners on its investment in the online language service Babbel and the shareholders of Motor-Talk GmbH (including Axel Springer Digital Ventures and Global Founders Capital) on the sale to the Ebay subsidiary mobile.de.
Advisors to Zalando SE: Noerr LLP
Prof. Dr. Christian Pleister (lead, Frankfurt/Berlin), Felix Blobel (Berlin), Rene Dubois (Düsseldorf , all Corporate/M&A)
Sonja Pappert (Tax, Munich), Dr. Laurenz Tholen (Insolvency, Berlin)
Noerr Consulting: Andreas Sand, Sonja Bareiß (both Berlin)
Inhouse: Dr. Michael Menz, Dr. Martin Hager (Corporate), Larissa Boks (Immobilienrecht), Yvonne Schmidt (Arbeitsrecht)