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Tesco Seeks Legal Counsel from Freshfields on £3.7 Billion Merger

Tesco Seeks Legal Counsel from Freshfields on £3.7 Billion Merger

Freshfields Bruckhaus Deringer advised long-standing client Tesco on its £3.7 billion acquisition of the UK’s largest food wholesale operator, Booker Group. Freshfields prior work for Tesco includes international counsel for ventures in China, Czech Republic, Japan, Poland, Taiwan, and Thailand. The Magic Circle firm also advised Tesco on its £4.2 billion sale of South Korean company Homeplus. Additionally, Freshfields has deployed its litigation team to advise on a shareholder group claim regarding a profit restatement.

Fellow Magic Circle firm Clifford Chance acted on the other side of the deal for Booker Group. The group owns chains such as Premier, Budgens, and Londis. This lead mandate comes as no surprise given that Clifford Chance is Booker Group’s main legal adviser. As with any merger of this size, it is subject to regulatory approval by the Competition & Markets Authority (CMA). Barring any objections, it is set to complete later this year.

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