DLA PIPER ADVISES ON HOUSE OF FRASER BID
Manchester – DLA Piper Rudnick Gray Cary (“DLA Piper”) has advised Bank of Scotland on the £453m bid for House of Fraser by a consortium led by Icelandic retail investor Baugur Group. The consortium includes Don McCarthy, the head of the Shoe Studio, Principles and Warehouse fashion chain Rubicon.
This follows a run of retail deals also handled by the DLA Piper team, including the recent £1bn bid for McCarthy & Stone, where the team advised the Bank of Scotland-led consortium.
The DLA Piper team advising on the House of Fraser deal was led by banking partners Simon Woolley and Matthew Christmas, and assisted by banking associate Liz Sweeney and real estate associate Vanessa Rickard.
Jonathan Watkins, who led the team advising the consortium on the McCarthy deal, handled all aspects of the House of Fraser transaction, principally assisted by corporate associate Yunus Maka.
Commenting on the deal Simon Woolley said: “We were delighted to work on another very high profile complex deal – this has been a truly incredible month for the team and both deals required supreme team efforts to achieve very short deadlines.”
“It also forms part of an amazing run of well over £3bn of retail deals over the last few years – Arcadia, Littlewoods, Big Food Group and Goldsmiths.”