Ashurst advised an international consortium of banks comprising Commerzbank Aktiengesellschaft, IKB Deutsche Industriebank AG, ING Bank N.V. and Société Générale on the financing of the acquisition of the CHRIST jewellery stores by finance investor 3i. CHRIST, a unit of German retailer Douglas, was sold by Al Beauty SCA, a company indirectly controlled by the Kreke family and Advent International.

The Ashurst team was led by banking partners Dr Bernd Egbers (Munich) and Anne Grewlich (Frankfurt). They were supported by counsel Christiane Bestgen, senior associate Dr Endrik Kramski, associates Isabell Pöller and Dr Thomas Freund as well as paralegal Anna Caterina Zoth. Partner Heiko Penndorf and senior associate Felix Krüger from Frankfurt advised on tax aspects.