Freshfields Bruckhaus Derringer has underscored its position advising on borrower financing in the private equity market by landing the lead role on Permira’s acquisition of Valentino.
The private equity champions advised on the €2.6bn (£1.76bn) acquisition of 10.8 per cent of the fashion group from investment company International Capital Growth (ICG). The deal comes after the private equity house acquired 29.6 per cent of the group last month.
Lead partner on the deal Brian Gray said: “We’re very successful on the corporate side, but there are also quite a few private equity deals where we have been on the debt side. It depends on the circumstances and the sponsors.”
Italian firm Bonelli Erede Pappalardo advised Permira on the corporate side of the acquisition.
Gray said: “The acquisition also involves Permira making an offer for Hugo Boss, of which Valentino is a majority share holder. We’re advising Permira on German corporate law.”
Last month (15 May) The Lawyer reported that Freshfields advised consortium member Goldman PIA on the debt financing of the €3bn (£2.03bn) auction of television production company Endemol.
Gray said: “We’ve also advised on the debt side for Netcare consortium’s acquisition of General Healthcare Group where Ashurst acted for the consortium on M&A. I think the firm is doing very well in this area.”