Clifford Chance advises Parcom on the conditional agreement with HEMA bondholders on the acquisition of HEMA
Clifford Chance has advised Dutch investment company Parcom on the conditional agreement with HEMA B.V. and the Ad Hoc Group, which represents a majority of HEMA’s senior bondholders, on the acquisition of HEMA B.V. This conditional agreement was reached by a 50/50 consortium of Parcom and Mississippi Ventures, the investment vehicle of the Dutch entrepreneurial family Van Eerd, owner of Jumbo supermarkets.
For a maximum period of 8 weeks, the Consortium has obtained exclusivity to perform further due diligence; to secure bank financing for a group of Dutch financial institutions; and to complete the intended purchase of 100% of the outstanding shares of HEMA. For a successful completion of the transaction, the consortium needs to succeed in obtaining appropriate bank financing from Dutch financial institutions in order to ensure an integral and sustainable long-term foundation that enables HEMA to execute a future-proof business plan. The consortium expects to be able to issue an update on the transaction in the first half of December.
The Clifford Chance team was led by Hans Beerlage and furthermore consisted of Katja Busuladzic, Han Kalule, Luc van Oosterhout and Jorrit Sijl, Michiel Sunderman, Rocco IJsselmuiden, Floris van de Bult and Sanne Blankestijn.