Clifford Chance has advised fashion retailer New Look, together with the major shareholders Apax and Permira, on its sale to Brait, a South African investment house.

New Look has more than 800 stores worldwide. Brait has acquired a c90% stake for c£780m in a transaction for which values New Look at an enterprise value of c£1.9bn

The acquisition, primarily from private equity houses Apax and Permira, follows an 11-year ownership of the retailer.

Corporate partner Amy Mahon led the team at Clifford Chance, supported by partner David Pearson, senior associate Toby Parkinson and associates Neil Barlow and Oli Marcuse.