Puma picks hengeler for advice on PPR buy

French luxury group PPR’s ?5.32bn (£3.64bn) acquisition of Puma landed Hengeler Mueller its first major instruction from the sports label.

Hengeler has done the odd spot of company law work for Puma, but for this major instruction it fielded a team led by corporate partners Wolfgang Grobecker and Maximilian Schiessl. German rival and Herbert Smith ally Gleiss Lutz picked up a role advising Puma’s executive committee.

Meanwhile, the deal cemented Freshfields Bruckhaus Deringer‘s relationship with PPR.

PPR first bought 27 per cent of Puma in a share purchase agreement on 10 April with billionaires Guenter and Daniela Herz’s holding company Mayfair, advised by CMS Hasche Sigle. Two days later, Puma launched a recommended offer for the rest of the company at ?330 (£225.67) per share. The deal is being financed entirely through debt.