DLA Piper advised international luxury conglomerate Lanvin Group in its New York Stock Exchange listing via a de-SPAC merger with a special purpose acquisition company (SPAC) under Primavera Capital valued at USD1 billion.
The de-SPAC merger between NYSE-listed Primavera Capital Acquisition Corporation (PCAC) and Lanvin Group, the fashion arm of Chinese giant Fosun International attracted USD326 million in private investment in public equity (PIPE) funding and USD50 million in private equity.
A de-SPAC transaction occurs when one or more private target companies agree to be acquired by a SPAC, which has itself completed an IPO and is looking for targets to buy.
Simpson Thacher and Davis Polk advised PCAC, and Skadden advised the underwriters including Citigroup, Credit Suisse and Cantor Fitzgerald.
Capital markets partner in Hong Kong, Christina Loh, led the DLA Piper team with Joe Bauerschmidt, country managing partner, Singapore, and head of capital markets, Southeast Asia.
The team was assisted in the US by tax partner Stephan Harris, litigation partner Paolo Morante and corporate partner Jeffrey Lehrer.
Corporate partner Alex Tamlyn and partner Mark Dwyer provided support in the UK, while corporate partners Elisabeth Stichmann and Christian Temmel, and partner Jasna Zwitter-Tehovnik all provided support in Vienna.
Singapore-based litigation and regulatory partner Nathan Bush provided support on Asian antitrust and competition matters.
Lanvin Group owns many fashion brands, including Lanvin, Wolford, Sergio Rossi, St John Knits and Caruso.