Steinhoff Europe AG completes implementation of its corporate and financial restructuring

Niederer Kraft Frey advised Steinhoff Europe AG (“SEAG”) and its subsidiaries as Swiss counsel in connection the corporate and financial restructuring of the European companies of Steinhoff group, a major South African retailer with operations in Europe, Africa, the United States and Australia, via an English company voluntary arrangement (CVA). The implementation of the restructuring was successfully completed on 13 August 2019.

The cross-border transaction represents one of the most significant restructurings in recent years and in 2019 the largest to date. NKF advised on a variety of implementation mechanics with respect to certain changes to the Steinhoff group’s European corporate holding structure and the restructuring of SEAG’s financial indebtedness.

The NKF team was led by Till Spillmann (partner, Corporate/M&A, Finance) and comprised Markus Kronauer (partner, Tax), Andrea Giger and Adrian Koller (both senior associates, Corporate/M&A, Finance), Ivo von Büren (associate, Corporate/M&A, Finance) and Alexander Fisch (junior associate, Corporate/M&A, Finance).