Dechert Advises on Trio of High-Profile M&A Deals in Belgium

Dechert recently advised on a trio of high-profile transactions in Belgium involving some of the country’s most respected brands.

In the first transaction, a multi-disciplinary team represented Rossel, one of Belgium’s leading media groups, alongside DPG Media, the largest media group in Belgium and the Netherlands, in the joint acquisition of 100% of the shares of the leading Belgian French-speaking TV and radio group, RTL Belgium, from Luxembourg-based CLT–UFA. The acquisition took place within the framework of an auction sale led by JP Morgan, financial advisor to the seller.

The transaction is valued at EUR 250 million and is expected to occur in Q4 2021 upon antitrust clearance from the Belgian competition authorities, on which Dechert also is advising.

The Dechert team advising Rossel was led by corporate partner Eric Deltour and senior associate Geoffroy Fink and antitrust/competition senior associate Marjolein De Backer.

In the second transaction, Dechert represented First Heritage Brands B.V. as well as family shareholders in the sale of Delvaux, the world’s oldest luxury leather goods and handbag manufacturing company and one of Belgium’s five most recognizable brands, to Swiss-based Richemont International, the world’s second largest luxury group and owner of prestigious Maisons. The sale process was led by Stanhope Capital, financial advisor to First Heritage Brands B.V. The terms of the deal were not disclosed.

The Dechert team advising First Heritage Brands included corporate partner Eric Deltour and senior associate Geoffroy Fink.

Thirdly, Dechert advised a group of minority shareholders (and initial founders) in the sale of 35% of the shares of Newpharma Group, the Belgian market leader in online sales of parapharmacy and OTC products, to Euronext-listed Colruyt Group and Korys, the investment company of the Colruyt family. Dechert Brussels previously represented the founders of Newpharma in their sale of 65% of the shares in 2017. The terms of the transaction were not disclosed.

The Dechert team advising the Newpharma shareholders included corporate partner Eric Deltour and senior associate Geoffroy Fink.

About Dechert

Dechert is a leading global law firm with 23 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.