Linklaters has advised its long standing client Steinhoff on its £597m recommended takeover of UK discount retailer Poundland.

Steinhoff is a leading retailer manufacturing, sourcing and retailing furniture, household goods and general merchandise in Europe, Australasia and Africa. Steinhoff has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the Johannesburg Stock Exchange and has a market capitalisation of €21bn. The company - which has more than 40 brands and 6,500 shops and employs approximately 105,000 people - generates over 60 per cent of its revenues from Europe and is currently the second largest household goods retailer in Europe by revenue.

The Linklaters team was led by corporate partner Charlie Jacobs and corporate managing associate Kay Moon.

In December 2015, Linklaters advised Steinhoff on its listing on the Frankfurt Stock Exchange, which was the largest prime standard listing in Germany of 2015, as well as the country’s largest listing since 2000.