Kirkland's City arm lands record African LBO
Kirkland & Ellis has bagged a key role advising Bain Capital on its $3.5bn (£1.7bn) acquisition of African retailer Edgars Consolidated Stores - the largest leveraged buy-out seen on the continent to date. Kirkland acted for regular client Bain, fielding a City-based team including corporate partners James Learner and Christopher Field, finance partners Stephen Gillespie and Neel Sachdev and tax partner Ian Taplin.
February 09, 2007 at 05:28 AM
1 minute read
Kirkland & Ellis has bagged a key role advising Bain Capital on its $3.5bn (£1.7bn) acquisition of African retailer Edgars Consolidated Stores – the largest leveraged buy-out seen on the continent to date.
Kirkland acted for regular client Bain, fielding a City-based team including corporate partners James Learner and Christopher Field, finance partners Stephen Gillespie and Neel Sachdev and tax partner Ian Taplin.
The transaction will be funded with a financing package of long-term debt and equity, with Barclays and Absa Capita providing debt on the deal.
Edgars – which operates more than 900 retail outlets and is the largest retailer in South Africa – was advised by Johannesburg firm Webber Wentzel Bowens.
Meanwhile, Kirkland has also advised TowerBrook Capital Partners on its £185m acquisition of luxury goods manufacturer and retailer Jimmy Choo from Lion Capital. Corporate partner Erik Dahl led the team for Kirkland advising TowerBrook. SJ Berwin acted for Lion Capital.
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