Simpson Thacher acts in jv between Grupo Axo and The TJX Companies
Simpson Thacher has acted as advisor to Grupo Axo on the formation of a joint venture with The TJX Companies. Under the terms of the agreement, TJX would own 49% and Axo 51% of Axo’s existing business in Mexico, comprising more than 200 shops under the Promoda, Reduced and Urban Store brands.
The transaction is subject to regulatory approvals and other customary closing conditions.
Grupo Axo is a leading multi-brand, multi-channel retailer in the apparel, fashion accessories, footwear and beauty and personal care categories, with a portfolio of well-known brands sold through more than 6,900 department stores’ outlets and more than 970 boutiques in Mexico, Chile, Peru and Uruguay.
The TJX Companies is the leading off-price apparel and home fashions retailer in the United States and around the world, operating more than 4,900 shops in nine countries.
Simpson Thacher’s team included partners S. Todd Crider (pictured left), Peter Guryan (pictured centre, left), Andrew B. Purcell (pictured centre, right) and William Smolinski (pictured right), counsels Richard J. Jamgochian and Ron Ben-Yehuda, and associates Alejandro De Ramon-Laca, Enrique Güijosa, Isaac Cattan and Alysha Sekhon.
