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Clifford Chance

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Clifford Chance advises banks on Advent's €1.5bn bid for Douglas Holding

5 November 2012

Clifford Chance advises banks on Advent's €1.5bn bid for Douglas Holding

International law firm Clifford Chance is advising the underwriting banks on private equity firm Advent International's €1.5 billion for German retailer Douglas Holding.

The offer, which is conditional upon at least 75 percent of the retailers' shareholders accepting it, will be partly funded by €650 million of senior debt underwritten by Bayern LB, Credit Suisse, Goldman Sachs, IKB, JPMorgan, LBBW, Raiffeisen Bank International and Unicredit, each acting as a physical bookrunners and Commerzbank acting as a non-physical bookrunner.

The Clifford Chance team was led by Jim MacHale (lead partner) and Min Jin Teo (lead associate) in London. The team in Germany included Thomas Weitkamp (partner), advising on finance; and Johannes Perlitt (partner) and Anja Döring (senior associate) advising on corporate law.