Simpson Thacher Represents Nanjing Cenbest in its Announced Acquisition of a Majority Stake in House of Fraser
04.18.14
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The Firm is representing Nanjing Xinjiekou Department Store Co., Ltd. (“Nanjing Cenbest”) in connection with its announced agreement to acquire approximately 89% of Highland Group Holdings Ltd (“House of Fraser” or the “Company”) for an enterprise value of approximately £480 million. The acquisition is expected to close in approximately four months and is subject to customary closing conditions including the approval of Nanjing Cenbest shareholders and Chinese regulatory clearances.
Nanjing Cenbest is a leading chain of luxury Chinese department stores focused on fashion and accessories. House of Fraser is the leading, national premium department store group in the U.K. and Ireland trading principally under the iconic House of Fraser brand name.
The Simpson Thacher team includes Derek Baird, Shaolin Luo, James Connor and Christina Barnsley (M&A), Nick Shaw (Capital Markets) and Antti Pesonen (Credit).