Latham & Watkins has advised L Catterton on entering into a binding agreement with Hammerson to acquire Hammerson’s entire interest in Value Retail through Silver Bidco Limited, a newly formed company incorporated in Jersey and established by certain affiliates of L Catterton, for an enterprise value of £1.5 billion, generating cash proceeds of approximately £600 million.

Through its affiliate, The Bicester Collection, Value Retail specializes exclusively in the creation and operation of luxury shopping destinations. In the UK and Europe, it operates nine Villages located outside of Barcelona, Brussels, Dublin, Frankfurt, London, Paris, Madrid, Milan, and Munich, including Bicester Village.

The Latham team was led by London corporate partners Tom Evans and Linzi Thomas, with associates Jon Fox and Chris Cox.