Cravath’s London Office Moves to 100 Cheapside
January 28, 2021
On January 27, 2021, Cravath partner Philip J. Boeckman was featured in a Q&A published by Leaders League. In the profile, entitled “An American Law Firm in London,” Philip discussed the integrated practice between the Firm’s London and New York offices, as well as the unique ability of the London office to advise clients on U.S. law in coordination with firms practicing local law in any given jurisdiction. Philip reviewed some of the Firm’s recent cross‑border transactions, including Groupe PSA’s merger with Fiat Chrysler, Just Eat Takeaway.com’s $7.3 billion combination with Grubhub and Richemont’s $1.1 billion global strategic partnership with Alibaba Group and Farfetch, and in discussing current capital markets trends, he underscored the novel issues created by the COVID‑19 pandemic and the ensuing increase in activity in this area for the Firm’s clients. Looking ahead, he also spoke to the potential future impact of Brexit on international markets.
Deals & Cases
December 19, 2019
On December 18, 2019, Peugeot S.A. (“Groupe PSA”) and Fiat Chrysler Automobiles N.V. (“FCA”) announced that they have entered into a definitive combination agreement to create the fourth largest global automotive manufacturer by volume and third largest by revenue. Upon completion of the transaction, Groupe PSA and FCA shareholders will each own 50 percent of the combined group’s Dutch‑domiciled parent company. Cravath is acting as U.S. counsel to Groupe PSA in connection with the transaction.
Deals & Cases
June 10, 2020
On June 10, 2020, Just Eat Takeaway.com N.V. (“Just Eat Takeaway.com”), a food delivery marketplace with leading positions in the U.K., Germany and the Netherlands, announced it has entered into a definitive agreement to acquire 100% of the shares of Grubhub Inc. in an all-stock transaction to create the largest online food delivery platform outside of China. The transaction implies a total equity consideration, on a fully diluted basis, of $7.3 billion. Cravath represented Just Eat Takeaway.com in connection with the transaction.
Deals & Cases
December 08, 2020
On November 5, 2020, Farfetch, Alibaba Group (“Alibaba”), and Richemont announced a global strategic partnership to provide luxury brands with enhanced access to the China market as well as accelerate the digitization of the global luxury industry. As part of the global partnership, Alibaba and Richemont will invest $600 million ($300 million each) in private convertible notes issued by Farfetch Limited. Alibaba and Richemont will also invest $500 million ($250 million each) in Farfetch China, taking a combined 25% stake in a new joint venture which will include Farfetch’s marketplace operations in the China region. Alibaba and Richemont have an option to purchase a further combined 24% of Farfetch China after the third year of the joint venture’s formation. Cravath is acting as U.S. counsel to Richemont.
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