The deal team that worked on Reliance Brands’ acquisition of iconic British toy maker Hamleys had to carry out due diligence in multiple jurisdictions the company was present to make the deal go through.
“This was a truly cross-border deal with an Indian purchaser, Chinese seller (listed in Hong Kong and incorporated in Bermuda) and an English target business with an international franchise model,” said Slaughter & May corporate partner Nilufer von Bismarck. The firm advised Reliance on the English law aspects of the acquisition covering areas such as real estate, intellectual property, competition, tax, employment and corporate law.
“This was a multi-jurisdictional deal with the target having operations and franchise relationships in several countries,” Khaitan & Co partner Rahul Dutt, who advised Reliance on Indian law aspects, told India Business Law Journal. “[The acquisition] involved due diligence of the intellectual property rights, real estate, contractual relationships of the target, as well as compliances in such countries. Structuring the acquisition and tax advice also played a vital role.”