Gleiss Lutz advises Steinhoff on the financing of the planned acquisition of Darty

Gleiss Lutz advised the global retailer Steinhoff International Holdings N.V. on the GBP 673 million financing of the bid by its French subsidiary Conforama for the UK listed Darty plc.

Conforama is a leading European retailer of furniture and household goods and a member of the Steinhoff Group.  Steinhoff has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the Johannesburg Stock Exchange and has a current market capitalisation of approximately EUR 21 billion, approximately 105,000 employees and broad global operations with a presence in the UK, Continental Europe, Southern Africa and the Pacific Rim. Darty is a leading multi-channel service-led electrical retailer operating over 400 stores and websites in France, Belgium and the Netherlands, with a focus on white goods as well as brown and grey.

The lead financing team advising Steinhoff consisted of: Dr. Eva Reudelhuber (Lead, Partner), Yana Koch, Nikolos Tsagareli and Dieu Hong Mai (all Gleiss Lutz, Banking and Finance, Frankfurt) together with the Paris based law firm Villey Girard Grolleaud and the London based law firm Travers Smith LLP.

Gleiss Lutz has advised Steinhoff on various financings in the past.