Falabella instructs Cleary Gottlieb on $138 million e-commerce acquisition
Cleary Gottlieb advised Chilean retailer Falabella in its $138 million acquisition of online marketplace operator Linio.
Falabella is one of Chile’s largest companies, it operates 494 stores and 42 shopping centres in Argentina, Brazil, Chile, Colombia, Peru and Uruguay.
Linio was founded by German internet company Rocket Internet in 2012 and it is currently an online marketplace that operates in eight Latin American countries.
“With this acquisition, the company takes another step towards its goal of consolidating its position as a leading e-commerce in the region. Linio will boost sales of Falabella Retail, Sodimac and Tottus, becoming a common display for the products of the group’scompanies, which will also continue to strengthen their own digital e-commerce sites. Inaddition, Linio will allow us to offer a broader assortment from different suppliers thatalready sell through its platform” said Gaston Bottazzini, CEO of Falabella, in a statement issued to investors.
Partner Oliver Schröder in Frankfurt led the M&A team at Cleary Gottlieb acting for Falabella. Partner J.F. Daniel Weyde, also in Frankfurt, advised on the tax aspects of the transaction.
Partners Chantal E. Kordula in New York and Andrés de la Cruz, in Buenos Aires, advised on further M&A aspects of the deal.
