FRANKFURT/MUNICH, 25 November 2010 – Global alternative asset manager The Carlyle Group (Carlyle) announced the acquisition of Primondo Specialty Group (PSG) from Arcandor AG's subsidiary Primondo. PSG comprises a diverse portfolio of highly specialized multi-channel mail order businesses, including Walz, Planet Sports, Bon’A Parte and Elégance. The international law firm Milbank, Tweed, Hadley & McCloy LLP has advised Carlyle with regard to corporate, tax, finance and antitrust aspects of the transaction. The parties agreed not to disclose the financial terms of the transaction.
The Milbank team representing Carlyle in this transaction included corporate/M&A partners Norbert Rieger (lead, Munich), Peter Memminger (Frankfurt) and Martin Erhardt (Munich), finance partner Rainer Magold (Frankfurt) and Anthony Morton (Of Counsel, Frankfurt), tax partners Rolf Fueger (Munich) and Russell Kestenbaum (New York) and antitrust partner Alexander Rinne (Munich) alongside the Frankfurt and Munich Associates Daniel Gubitz, Sebastian Olk, Thomas Tiedemann, Hannibal Oezdemir (all corporate/M&A), Maximilian Schneider (finance), Tobias Beuchert (tax) and Tatjana Muehlbach (antitrust).
Carlyle is a global alternative asset manager with $97.7 billion of assets under management committed to 78 funds as of September 30, 2010. Carlyle invests across three asset classes – private equity, real estate and credit alternatives.
About Milbank
Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm founded in 1866 in New York City. Today Milbank has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, New York, São Paulo, Singapore, Tokyo and Washington, DC and is present in all major financial and economic centers of the world. Milbank’s main focus regarding its worldwide legal services are the areas of finance, transactions and litigation.
The first European office was opened in 1979 in London, followed by Frankfurt in 2001 and Munich in 2004. Due to the close cooperation of the German offices with the finance, corporate, cartel and tax lawyers practicing in the other Milbank offices, in particular London and New York, Milbank Germany is in a position to provide fully integrated legal advice on the highest level in all these core areas pursuant to German, English and US law.
Contact
Ursula Kaltenthaler
Milbank
T: +49-89-25-559-3607
ukaltenthaler@milbank.com