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Latham & Watkins Advises Farfetch on Its Sale to Coupang and Greenoaks & Entry Into a US$500 Million Bridge Loan Facility

December 20, 2023
Cross-practice team counsels a leading global marketplace for the luxury fashion industry.

Latham & Watkins has advised Farfetch on the entry into a US$500 million bridge loan facility by Farfetch Holdings plc and certain of its subsidiaries, as borrowers and/or guarantors, with Athena Topco LP an entity owned by Coupang, Inc., and funds managed and/or advised by Greenoaks Capital Partners LLC, as lender. The parties have also entered into a transaction support agreement pursuant to which the sale of the Farfetch business to Athena Topco LP is expected via a UK pre-pack administration process.

The cross-border, multidisciplinary Latham team was led by corporate partners Ed Barnett, Hector Sants, Ian Schuman, and Josh Kiernan, with associates Leah Adeniran, Connie van den Berg, and Francesca Forzoni. Advice on restructuring matters was provided by partners Bruce Bell, Jessica Walker, and Hugo Bowkett, with associates James Hollingshead, Jonathan Akinluyi, Ben Russell, and Anna Dawson; on banking and finance matters by partners Manu Gayatrinath, Melissa Fabian, and Joe Kimberling, with associates Donald Cooley, Sara Shahmiri, and Katie Inglis; on capital markets matters by partners Reza Mojtabaee-Zamani, Adam Gelardi, Jenna Gascoyne, and Brian Miller, with counsels Gail Neely, Joel Cavanaugh, and Emily Corbi, associates Polina Tulupova, Jack Neff, Hanna Downing, and corporate attorney Edyta Hannas; on data and technology matters by partner Christian McDermott, with associates Alain Traill, Elva Cullen, Martha Crnkovic, Grace Erskine, Liz Longster, Timothy Neo, Ami Sodha, Kate Burrell, Ben Leigh, and Clarence Cheong; on antitrust matters by partner David Little, with associates Anthemis Economou and Maria Loudjeva; on US restructuring matters by partner Andrew Sorkin and associate Whit Morley; on Italian restructuring matters by partner Marcello Bragliani, counsel Mario Orsenigo, and associate Claudia Cavalli; on Italian corporate matters by counsel Giovanni Spedicato and associate Marco Martino; on employment and benefits matters by partner Sarah Gadd; and on tax matters by partner Sean Finn, counsel James Leslie, and associate Aaron Bernstein.