Freshfields Bruckhaus Deringer has advised the Kering luxury brand group on the acquisition of all shares in the Swiss Ulysse Nardin watch manufacturer.
Listed on the Euronext Paris Euro, luxury and lifestyle company Kering (formerly PPR) operates with brands like Gucci, Saint Laurent, Stella McCartney, Brioni, Puma. The company generated a turnover of EUR 9.7 billion with 35,000 employees in 2013. With the acquisition of Ulysse Nardin, Kering strengthens its Luxury Watches and Jewelry division. The transaction must still be approved by the relevant competition authorities and is expected to be completed in the second half of 2014.
Freshfields accompanied Kering on all aspects of the transaction outside of Switzerland, where the company was advised by the Homburger law firm. The Freshfields team — which included lawyers from the firm’s Moscow and Vienna offices — consisted of Heiner Braun, Maximilian Platzer, Xianbei Li, Sebastian Pritzkow, Stephan Purps, Jennifer Ju, Nathalie Di Thomasso, Maria Borodina, Pavel Annekov, Alexandra Basheva, Massimo Caruso, Silvestro Nasturzio, Richard Bird, Andrew Wood, Allen Yan, Mohammad Tbaishat, Axel Reid Linger, and Alex Viktorov.