The London office of Debevoise & Plimpton LLP has advised Clayton, Dubilier & Rice (CD&R) and SSA Investments (SSA) on 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 340 pence per share, raising £408 million.

CD&R continues to hold approximately 11% of B&M’s ordinary shares, while SSA continues to hold approximately 21% of B&M’s ordinary shares.

B&M is a fast-growing discount retailer, operating from over 450 stores in the UK, as well as under the JA Woll brand in Germany.

SSA is the investment vehicle of the Arora family.

Founded in 1978, CD&R  is a private equity firm with an investment strategy predicated on producing financial returns through building stronger, more profitable businesses.

Debevoise previously advised CD&R on certain financing and certain other aspects of B&M’s initial public offering in 2014, as well as the previous sale of 120 million ordinary shares in B&M earlier this year.

The Debevoise team advising CD&R and SSA is led by London based partner Raman Bet-Mansour, and included associate Benjamin Lyon.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.