Retail

Cravath represented the administrative agent, joint lead arranger and joint bookrunner, in connection with a $500 million revolving credit facility made available to TripAdvisor, Inc., TripAdvisor Holdings, LLC and TripAdvisor LLC. TripAdvisor, Inc. operates as an online travel company and primarily engages in the provision of travel guidance products and services worldwide. The transaction closed on June 29, 2023.

Cravath represented Booking Holdings Inc. in connection with its €1.75 billion registered senior notes offering. Booking Holdings Inc. is a leading provider of online travel and travel-related reservation and search services. The transaction closed on May 12, 2023.

Cravath represented Booking Holdings Inc. in connection with its €3.5 billion registered senior notes offering. Booking Holdings Inc. is a leading provider of online travel and travel-related reservation and search services. The transaction closed on November 15, 2022.

On August 24, 2022, Richemont, FARFETCH and Symphony Global, one of the investment vehicles of Mohamed Alabbar (“Alabbar”), announced the acquisition by FARFETCH and Alabbar of a 47.5% and 3.2% stake respectively in YOOX NET‑A‑PORTER (“YNAP”), and the agreement for Richemont and YNAP each to adopt FARFETCH Platform Solutions. Cravath is representing Richemont as U.S. counsel in connection with the transaction.

On June 21, 2022, Pitney Bowes, a global shipping and mailing company, and Global‑e, a cross‑border end‑to‑end platform for brands and retailers, announced they have entered into a definitive agreement for Global‑e to acquire from Pitney Bowes the Borderfree cross‑border ecommerce solutions business. In addition, the companies will begin a strategic partnership and commercial relationship whereby Pitney Bowes will provide cross‑border ecommerce logistics services to Global‑e and its clients, and Pitney Bowes’s clients will receive access to cross‑border solutions on the Global‑e platform. Cravath is representing Pitney Bowes in connection with the transaction.

Between July 28 and August 11, 2023, Cravath advised on nine announced deals, including seven deals in a span of three business days. Cravath is representing:

On March 8, 2023, Cravath partner Noah Joshua Phillips participated in the 2023 Retail Law Summit, which was hosted virtually by the National Retail Federation from March 7‑9, 2023. Noah spoke on a panel entitled “Playing by the Rules: How the FTC is Impacting Retailers,” which reviewed the biggest issues facing the FTC and what retailers should be aware of relating to enforcement, antitrust and future regulations.

In October 2022, Cravath was recognized by The Deal as part of its 2022 Awards series, which “recognizes the elite advisers and service providers who power the deal economy.”

Cravath partner George F. Schoen authored a chapter of The International Comparative Legal Guide to Mergers & Acquisitions 2022, which provides cross‑border insights into mergers and acquisitions and was published by Global Legal Group on March 3, 2022. The chapter, entitled “Key Drivers and Trends: Digitization, Decarbonization and SPACs,” examines developments in 2021, including digitization in the technology, retail, healthcare and education sectors, decarbonization in the oil and gas industry and the role of SPACs in M&A.