November 23 2004 – LAWFUEL – Banking, securities, law firm news – Allen & Overy has advised The Royal Bank of Scotland plc on the financing
of the acquisition of luxury shoemaker Choo Holdings UK Limited by the
private investment firm Hicks Muse Tate & Furst.
Hicks Muse Tate & Furst agreed to buy control of Jimmy Choo from Phoenix
Equity Partners Ltd. (“Phoenix”), a London-based buyout firm, in a
purchase that values Jimmy Choo at £101 million.
Jimmy Choo was founded by Tamara Mellon, an editor at fashion magazine
Vogue, and London-based shoemaker Jimmy Choo in 1996. Phoenix bought
Choo’s stake in the company in April 2001. Jimmy Choo, whose customers
include celebrities Sarah Jessica Parker and Jennifer Lopez, sells its
shoes and accessories through more than 20 stores in London, New York,
Beverly Hills, Milan, Kuwait, Dubai, Korea and Hong Kong.
Allen & Overy partner, Ian Borman commented:
“We are particularly delighted to have advised The Royal Bank of Scotland
plc in a transaction where success depended, crucially, on the speed and
certainty of execution of the financing documentation. The financing
documentation allowing signing to proceed was completed in less than four
days and demonstrates the ability of Allen & Overy to work to very tight
The Allen & Overy team was led by banking partner Ian Borman, assisted by
associates Daniel Webster, Adam Emilianou and Rebecca Hunt.