The London office of Debevoise & Plimpton LLP has advised Clayton, Dubilier & Rice in the sale of 120 million ordinary shares in B&M, representing approximately 12% of B&M’s issued ordinary share capital.
The shares were sold at 320 pence per share, raising £384 million.
Clayton, Dubilier & Rice continues to hold approximately 17.4% of B&M’s ordinary shares.
B&M is a fast-growing discount retailer, operating from over 400 high street and out of town stores across the UK, as well as under the JA Woll brand in Germany.
Founded in 1978, Clayton, Dubilier & Rice is a private equity firm with an investment strategy predicated on producing financial returns through building stronger, more profitable businesses.
The Debevoise team advising Clayton, Dubilier & Rice is led by London based partner Raman Bet-Mansour
, and included Matt Saronson
, Cécile Beurrier
and Thomas Matthews.
Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. The firm’s commercially savvy lawyers regularly lead strategic transactions and complex disputes for world-class clients.