Slaughter and May advised Marks & Spencer (M&S) on the sale and franchise of its retail business in Hong Kong and Macau to its long-established franchise partner, Al-Futtaim.
The sale sees Al-Futtaim become the new sole franchisee for M&S in Hong Kong and Macau.
The sale follows M&S’s strategic review of its international business in November 2016, where M&S proposed to have a greater focus on its established franchise and joint venture partnerships and operate with fewer wholly-owned markets.
Al-Futtaim has worked in partnership with M&S since 1998 when it opened Dubai’s first M&S store. Following the purchase of 27 Marks & Spencer stores in Hong Kong and Macau, Al-Futtaim now operates 72 Marks & Spencer stores across 11 markets in Asia and the Middle East.
Slaughter and May advised Marks & Spencer on the deal with a Corporate team led by Paul Dickson (partner, in picture), assisted by Robyn Butler-Mason (associate) and Daniel Whitelock (associate); on IP matters advised David Ives (partner), Michaela Peck (associate); and on Tax lax provided assistance Dominic Robertson (partner) and Violeta Pina Montaner (visiting lawyer).
In Hong Kong provided assistance David Watkins (partner), Oliver Broomfield (associate) and Melanie Chew (visiting lawyer).
Involved fees earner: Paul Dickson – Slaughter and May; Robyn Butler – Slaughter and May; Daniel Whitelock – Slaughter and May; David Watkins – Slaughter and May; Oliver Broomfield – Slaughter and May; David Ives – Slaughter and May; Michaela Peck – Slaughter and May; Dominic Robertson – Slaughter and May; Violeta Pina Montaner – Slaughter and May;
Law Firms: Slaughter and May;
Clients: Marks & Spencer (M&S);