25 May 2017
Greenwoods & Herbert Smith Freehills advised The Foschini Group, one of South Africa's largest retailers, on the acquisition of the Retail Apparel Group. The deal was worth approximately $300M. RAG owns many familiar retail brands including Tarocash, yd., Connor, Johnny Bigg and Rockware. RAG's major shareholder, private equity firm Navis Capital Partners, abandoned plans to IPO the company in favour of the deal with Foschini.
The Greenwoods team comprised Richard Hendriks, Cameron Blackwood, Michael Carroll with Andrew Howe and Aakriti Sharma covering GST issues. They worked closely with Herbert Smith Freehills' team led by Martin Shakinovsky and Adam Strauss.
Partner, Head of Corporate and M&A