Slaughter and May advised Richemont on the global merger control aspects of its partnership with Farfetch and Alabbar

Slaughter and May advised Richemont, the Swiss luxury goods group, on the global merger control aspects of its partnership with Farfetch and Alabbar. The partnership includes Farfetch acquiring a 47.5% stake in YOOX Net-a-Porter S.p.A. in exchange for the issuance of Farfetch Class A ordinary shares to Richemont (the ‘Transaction’). The Transaction received unconditional clearance in multiple jurisdictions around the world, including in the UK and the EU. The Competition and Markets Authority announced that it had cleared the Transaction on 31 May 2023. The European Commission announced its clearance decision on 23 October 2023.