PwC Legal advises Smyths Toys on the acquisition of Toys “R” Us Germany, Austria and Switzerland

Frankfurt am Main, April 26, 2018

A multidisciplinary and international team assembled from the PwC/PwC Legal network provided Smyths Toys Superstores (“Smyths Toys”) based in Galway (Ireland) with comprehensive advice on the acquisition of Toys “R” Us operations in Germany, Austria and Switzerland (“Target Companies”). PwC Legal (with teams from Germany, Austria & Switzerland) provided legal advice which focused on legal review, contract negotiation and drafting of transaction documents, PwC Transaction Services (Ireland) provided financial advice and PwC Tax (with teams from Ireland & Germany) advised on tax matters.

The Target Companies were sold out of a group subject to Chapter 11 US bankruptcy code procedures and also required to be carved out of existing financing structures (i.e. asset backed bond programmes and secured credit facilities). Smyths Toys will take on all employees and management formerly employed by the Target Companies. The deal is still subject to approvals by the responsible judicial and regulatory authorities. The parties agreed to keep the purchase price confidential.

Smyths Toys is a family owned retailer of toys with 21 stores in the Republic of Ireland and 90 Stores in the United Kingdom. The acquisition will add a further 90 stores and online operations in three European countries to Smyths Toys, making Smyths Toys the largest toy retailer in Europe.

Advisors to Smyths Toys:

PwC Legal Germany:

Denis Bacina, Dr. Dirk Stiller, Moritz Gröning (all lead, Corporate/M&A); Dr. Gerung v. Hoff (Antitrust); Georg Friedhelm Buchenhorst (Corporate/M&A); Joy Otto Neugebauer (Corporate/Finance); Dr. Frank Degenhardt (Employment); Dr. Tobias v. Tucher, Lukas Lundbeck (both IT/IP); Peter Steinbacher (Pensions); Peter Holzhäuser (Real Estate)

PwC Legal Austria (oehner & partner rechtsanwaelte):

Dr. Christian Oehner (Corporate/M&A); Daniela Steiner (Antitrust)

PwC Legal Switzerland:

Dr. Benjamin Fehr (Corporate/M&A)

PwC Transaction Services (Germany):

Mark Paliga (Financial Pensions)

PwC Transaction Services (Ireland):

John Casey; Sinead J. Lawlor (both Financial Advice)

PwC Tax (Germany):

Birgit Thalhammer (Tax Advice)

PwC Tax (Ireland):

Ronan MacNioclais; Ruth O’Malley (both Tax Advice)

About PwC Legal:

PricewaterhouseCoopers Legal AG Rechtsanwaltsgesellschaft (law firm PwC Legal) is represented with more than 230 lawyers at 17 locations in Germany. It provides integrated legal advice in cooperation with the business lines audit and assurance services (Assurance), tax consulting services (Tax) as well as deals and consulting (Advisory) of PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft. Sound technical know-how and practice-oriented economic understanding characterize the way we work.

PwC Legal is a member of the worldwide PwC Legal network, with more than 3,200 lawyers offering their services in 90 countries worldwide.

About PwC:

The common purpose of PwC is to build trust in society and solve important problems. With a network of firms in 158 countries, more than 236,000 people are committed to providing high-value sector-specific services in the fields of Auditing, Tax- and Business Consulting.

The brand name, PwC, refers to the PwC network and/ or to one or several of its member firms, each of which is a separate legal entity. Further details under www.pwc.com/structure.