Otto Versand (GmbH & Co)

16 Apr 1999

OTTO VERSAND (GMBH & CO) ACQUIRES FREEMANS PLC

OTTO VERSAND (GMBH & CO) ACQUIRES FREEMANS PLC

Simmons & Simmons is advising Otto Versand (GmbH & Co) in respect of its acquisition of Freemans plc, a subsidiary of Sears plc and the company responsible for the mail order division of the Sears Group. The process from receiving instructions to exchange of contracts, which happened on 07 April, took place in just one week.

The Simmons & Simmons team is being led by Corporate partner Chris Wilkinson with assistance from Bridget Marsh and Alex Weiner (Corporate). Partner Nick Cronkshaw and Nick Fagge are advising on the tax issues, with partner Michael Wyman advising on the pension matters.

Titmuss Sainer Dechert is acting on behalf of Sears plc.

ENDS Notes for editors:

1. Simmons & Simmons is worldclass law firm with offices in London, Paris, Brussels, Düsseldorf, Lisbon, Milan, Rome, Madrid, Abu Dhabi, Hong Kong, Shanghai and New York with over 1,400 staff worldwide. For further information on Simmons & Simmons please visit our website at www.simmons-simmons.com.

2. The Corporate Department at Simmons & Simmons comprises over 220 legal staff, including 47 partners. It advises on new issues, takeovers and on the whole range of merger and acquisition and corporate finance activity as well as other corporate law matters for listed and unlisted companies, in the United Kingdom and overseas.