Freshfields Bruckhaus Deringer has advised Poundland Group plc on its proposed £55 million acquisition of 99p Store Limited.

The transaction, which is conditional on CMA approval, includes 99p Stores’ network of over 250 stores which serve more than two million customers a week. Freshfields advised Poundland on its IPO in March 2014.

The Freshfields team was led by corporate partner Oliver Lazenby, alongside ACT partner Martin McElwee.