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Macfarlanes advises OpCapita LLP on its purchase of electrical retailer Comet Group plc from Kesa Electricals plc.
Kesa Electricals plc has agreed to sell Comet Group plc to OpCapita.
Comet Group plc, which has 248 stores and has around 10,000 employees, reported a £1.5bn turnover in 2010/11. Comet is one of the most recognisable UK retail brands.
The Macfarlanes team was led by corporate partners Stephen Drewitt and Ian Martin. Stephen Drewitt said: "We are very pleased to have advised on this significant, high profile transaction. Given the market backdrop and a challenging environment for M&A generally, the execution of this transaction is a real success story. Our expertise across a number of key areas - including international fund structures and cross border tax planning - meant that we were again able to assist a key client with a complex transaction in a difficult macroeconomic environment."
The acquisition was announced on 9 November 2011. It is expected to be completed in early 2012 and is subject to shareholder approval.
For further information, please contact: Stephen Drewitt.
About OpCapita
OpCapita LLP is a private investment firm that focuses on operational change opportunities in the European retail and consumer sectors. The firm's partnership combines financial expertise with in-house operating partners who have strong operational track records. OpCapita acquires and invests in companies that are strategically sound but represent performance improvement opportunities where the potential exists to create long-term, sustainable value.
09 November 2011
