White & Case advises founders of Brands for Less on US$360 million sale of shares to The TJX Companies

Global law firm White & Case LLP has advised the founders of Brands for Less (BFL) on the US$360 million sale of 35 percent of its shares to The TJX Companies, Inc. (TJX) in a deal which values BFL at an enterprise value of US$1.2 billion.

"This is a transaction is a significant milestone for both BFL and TJX and a landmark deal in the UAE and the Middle East more broadly," said White & Case partner Marcus Booth, who co-led the Firm's deal. "It showcased not only the strength of White & Case on the ground in the UAE, but also our Firm's cross-border and cross-practice capabilities."

Dubai-headquartered BFL is the Middle East's leading off-price retailer of fashion, homeware and toys. It operates across seven markets in the region and has more than 100 stores.

TJX, a Fortune 100 company and the premier off-price apparel and home fashions retailer in the US and globally, operates more than 5,000 stores across nine countries on three continents. The transaction allowed TJX access to fast-growing consumer markets in the Middle East.

The White & Case team which advised on the transaction was led by partners Marcus Booth (Dubai & London) and Roger Gaspard (Dubai) and included partners Abdulwahid Alulama (Abu Dhabi & Dubai), Jonah Anderson, Will Smith (both London), Daniel Levin (Washington, DC), David Dreier (New York), Tamer Nagy (Washington, DC & Cairo), Abdallah Maher (Riyadh) and Louise Vun (Dubai), local partner Omar Anwar (Dubai & London), counsel Chris Ohlgart (Chicago) and associates Chris Thorn, Charles Tuckwell, Tigran Saakyan, Gabrielle Margerison, Natasha Marican, Arnold Krutilins, Ahmad Bin Dalmook (all Dubai), Alec Buchanan (London), Nazly Khedr (Cairo) and Reem Albakr (Riyadh).

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