Clifford Chance and Willkie Farr advise on €2.8bn German retail sell-off
Firms win leading roles as the owner of luxury retailer Saks Fifth Avenue takes on Galeria Kaufhof department stores
June 15, 2015 at 10:56 AM
2 minute read
Clifford Chance (CC) and Willkie Farr & Gallagher are leading as Germany's Metro has agreed to sell its Galeria Kaufhof network of department stores to Canada's Hudson Bay Company (HBC) for €2.8bn (£2bn) including debt.
HBC, owner of New York's Saks Fifth Avenue clothes business, will take on 103 Galeria stores in Germany as well as Metro's Belgian subsidiary, Inno. The Canadian group will also assume some liabilities.
CC is advising Duesseldorf-based Metro.
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