LAWFUEL – The Law News Network – Allen & Overy advised Dawnay, Day Group and Hilco UK Ltd. on the acquisition of 75 department stores from KarstadtQuelle AG, the leading German department store and mail order company. This transaction represents the investors’ first major corporate acquisition in Germany.
Dawnay, Day is a UK-based diversified financial services group and Hilco is an investor specialising in the retail sector. Both investors have extensive experience in the German market and plan to take full advantage of the potential of the department stores.
The international Allen & Overy team consisted of lawyers from the London, Hamburg and Frankfurt offices:
The German team was led by partner Dr. Cornelius Fischer-Zernin (Real estate, Corporate/M&A). It also included partner Dr. Henning Harte-Bavendamm (trademark law) and associates Klaus Mohr (Real estate, Corporate/M&A), Dr. Andrea Schefold (Real estate, Corporate/M&A), Martin Illmer (Real estate, Corporate/M&A), Dr. Marcus Hödl (Public law), Dr. Axel Schilder (Tax), Nicola Kohlhase (Employment law) and Cornelia Drenckhahn (Employment law)
The UK team was led by corporate partner Jeremy Hunt and also included partner Simon Roberts (banking and finance) and associate Dauwood Malik (banking and finance).
Dr. Cornelius Fischer-Zernin comments: “The transaction is an important step for our clients in their strategy of expanding into Europe. The deal once again demonstrates Allen & Overy’s effective cross-border advice delivered in a tight timeframe.”