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JULY 2013
toWERBRooK InVEStS In KAPoRAL
towerBrook Capital Partners L.P. (“towerBrook”) has made a majority investment in Kaporal (“Kaporal” or the “Company”), a French-based wholesaler and retailer of men and women’s fashion. towerBrook had been in talks with Laurent Emsellem, the founder and majority owner of Kaporal, since the middle of 2012. the transaction was signed on an exclusive basis, demonstrating our mutual understanding of the exciting future of the Company.
Founded in 2003 by Laurent Emsellem, Kaporal began as a Marseille-based denim supplier and has grown into a well-recognised lifestyle brand in France. Kaporal has expertise across both wholesale and retail channels and is known for its quality, fashionable, well-priced products. More recently, the Company has made a number of key strategic hires including the current CEO, Santiago Cuchy, and CFO, Bénédicte Weimar.
Laurent has been integral to the success of the business and will continue as an investor in the Company under TowerBrook’s ownership and in his capacity as board member. He will be joined on the board by the CEO, Santiago Cuchy, as well as Daniel Bernard and Michael Rahamim, newly appointed as Executive Chairman and non-executive director respectively. MBO Partenaires, the existing minority shareholder, will re-invest in the Company following a successful period of ownership since 2008.
The BBLM law firm (www.bblma.fr), founding member of the Alister Network, has advised the Kaporal Group and its CEO, Laurent EMSELLEM, since 2007. It has assisted the Group in its growth and restructuring activities.
Laurent ROUSTOUIL and Bernard BOUQUET have thus led the negotiations with the TowerBrook investment fund. Several BBLM departments were involved for support in connection with the deal: M&A, Tax, Labour Law, Intellectual Property and Contract Law.” LM
HELLo AXIAtA CoMPAnY In
StRAtEGIC MERGER WItH LAtELz CoMPAnY
Axiata Group Berhad (Axiata), one of Asia’s largest telecommunications companies, recently announced the strategic merger of Hello Axiata Company Limited ("Hello") and Latelz Company Limited ("Latelz"), which operates under the Smart Mobile brand name.
The merger will create the 2nd largest mobile telecommunications company in Cambodia with five million subscribers.
Hello Axiata Chief Executive Officer Simon Perkins said the time was right for consolidation in the mobile telecommunications market in Cambodia. "Currently there are nine players in the market and we believe through consolidations it will come down to three to five operators. The time is right for us to consolidate and we at Smart Mobile and Hello are proud to be leading the way in Cambodia."
Perkins said the merger would make it possible for the combined entity to enjoy better economies of scale, while eliminating duplication of costs. It will also facilitate synergies and the sharing of best practices between Hello Axiata and Smart Mobile.
"We are confident that the merger will put us on a stronger footing and it will allow us to grow from strength to strength," said Perkins.
Latelz’s Chief Executive Officer Thomas Hundt said: "We are excited with the prospects this enlarged within-network community can offer our customers. This will include, amongst others, an enhanced level of customer service and one of the biggest mobile networks of Cambodia in terms of coverage and capacity. We will also have one of the most extensive sales and distribution channels in Cambodia." LM
Latelz Company
Kaporal