SRP Group in €40 Million Capital Increase
December 3, 2018
Cleary Gottlieb is representing Showroomprivé.com (SRP Group) in its €40 million rights issue.
The transaction was announced on December 3, 2018, and is expected to close on December 28, 2018.
Co-founders David Dayan and Thierry Petit (through their respective holding companies) and the Carrefour group, all parties to a shareholding group acting in concert, committed to subscribe at least 75 percent of the offering, thus guaranteeing its completion.
The global coordinators for the offering are BNP Paribas and Société Générale.
The proceeds of the transaction will be used to finance the acquisition of the remaining 40 percent of Beautéprivée’s share capital not yet owned by SRP Group, with a view to strengthening the company’s leading position in the high growth potential beauty sector, as well as certain investments in logistics and general corporate purposes.
Cleary previously represented SRP Group in the conclusion of a strategic alliance with Carrefour in January 2018 and with Conforama and Steinhoff in 2017, and in its IPO in 2015.
SRP Group is a leading European online retailer, with operations in France, its principal market, and other European countries, including Spain, Italy, Portugal, and Belgium.