SNR Denton announced its client, MatlinPatterson sold 100% of its share in Toga Investments SARL (the holding company of the Cerruti group) to a subsidiary of Trinity Ltd for approximately €53 million. The deal was announced in Hong Kong on December 22, 2010.
“We were delighted to have assisted our client in bringing this complex deal to a successful conclusion. The deal presented many challenges, not least the tight timeframe, and working in time zones spanning Europe, North America and the Far East,” said Alain Vincent, SNR Denton Paris partner.
Trinity is the high-end to luxury menswear retail arm of the privately held Li & Fung Group, a multinational group of companies with a turnover in 2009 of over $16 billion. Toga Investments SARL is a private company incorporated in Luxembourg, with operating subsidiaries in France, Switzerland and Japan. Its products include fragrances, formal and casual wear, watches and accessories under the Cerruti brand and various Cerruti trademarks.
SNR Denton represented MatlinPatterson in the deal. The team was led by Paris partner Alain Vincent, and senior associates Rhidian David and Cyrille Gaucher.
