G-III Apparel Group’a acquisition of Donna Karan

Barack Ferrazzano Kirschbaum & Nagelberg acted as legal advisor to LVMH Moët Hennessy Louis Vuitton (LVMH) in its sale of Donna Karan International to New York-based G-III Apparel Group.

G-III funded the total purchase price of $650 million, subject to certain adjustments, with a combination of (i) cash, (ii) $75 million of newly issued shares of our common stock to LVMH and (iii) a $125 million junior lien seller note, of which $75 million in principal amount has a six and a half year maturity and $50 million in principal amount has a seven year maturity. The cash portion of the purchase price was paid from the proceeds of a $350 million six-year senior secured term loan, and the balance from borrowings under a $650 million five-year senior secured asset based revolving credit facility and cash on hand. The new revolving credit facility refinanced and replaced the Company’s existing credit facility.

Barclays acted as the exclusive financial advisor to G-III. Norton Rose Fulbright US LLP and Simpson Thacher & Bartlett LLP acted as legal advisors to G-III. Barack Ferrazzano Kirschbaum & Nagelberg LLP acted as legal advisor to LVMH.

The Barack Ferrazzano team was led by Peter Barack (Picture), Andrew Grossmann and Dan Dominguez, along with Jeremy Heckman, Amy Reilly and Kaitlyn Kelly. Michael Towne and Alice Lin assisted with the tax aspects of the transaction, and Julie Rademaker assisted with the real estate matters. Executive compensation and benefits were handled by Don Norman, Lynne Mapes-Riordan and K.C. Klagos.

Involved fees earner: Peter Barack – Barack Ferrazzano; Andrew Grossmann – Barack Ferrazzano; Daniel Dominguez – Barack Ferrazzano; Jeremy Heckman – Barack Ferrazzano; Amy Reilly – Barack Ferrazzano; Kaitlyn Kelly – Barack Ferrazzano; Michael Towne – Barack Ferrazzano; Alice Lin – Barack Ferrazzano; Julie Rademaker – Barack Ferrazzano; Donald Norman Jr. – Barack Ferrazzano; Lynne Mapes-Riordan – Barack Ferrazzano; K.C. Klagos – Barack Ferrazzano;

Law Firms: Barack Ferrazzano;

Clients: LVMH;


Author: Ambrogio Visconti