Allen & Overy is advising Goldman Sachs International as the arranger providing the financing for Compagnie Financière Richemont SA (Richemont) as it launches an EUR2.6 billion voluntary public tender offer to acquire all ordinary shares of Yoox Net-A-Porter Group that it doesn’t already own.

Richemont already owns several of the world's leading companies in the field of luxury goods, with particular strengths in jewellery, luxury watches and writing instruments. It has participated in the growth of Net-A-Porter and in the creation of Yoox Net-A-Porter Group. According to Richemont, this step is intended to strengthen its presence and focus on the digital channel, which is becoming critically important in meeting luxury consumers’ needs.

The team advising Goldman Sachs International is led by London banking partner Jonathan Brownson, with support from senior associate Joydeep Choudhuri and associate Marcus Chaplin. Jonathan commented: “This bid is an example of the broader trend towards take-private transactions in Europe, which we expect to see continue in 2018.”