Slaughter and May is advising Ocado Group on its online grocery retail JV with Marks and Spencer Group
Slaughter and May is advising Ocado Group plc ("Ocado") on its online grocery retail 50/50 joint venture ("JV") with Marks and Spencer Group plc ("M&S"). Ocado has agreed to establish a JV comprising Ocado's UK grocery retail business ("Ocado Retail"), supported by a new partnership for solutions services underpinned by Ocado Smart Platform ("OSP") and the provision of branding and sourcing from M&S. M&S has agreed to pay Ocado £750m (including deferred consideration) for a 50% share of the new JV with Ocado retaining 50% ownership.