White & Case advises Zinus on US$732 million sale of stake to Hyundai Department Store

Global law firm White & Case LLP has advised Zinus, Inc. (Zinus) on its US$732 million sale of a 35.8 percent stake to Hyundai Department Store (HDS), a major department store chain in South Korea.

"This transaction, which is expected to realize significant synergies in the Zinus and HDS businesses, is a testament to the way in which the White & Case team delivers pragmatic and commercially-driven advice that is complemented by our strong on-the-ground resources in South Korea," said White & Case partner Dongho Lee, who led the Firm's deal team. "We acted as M&A counsel to Zinus and its controlling shareholder, and we are currently advising both Zinus and HDS as antitrust counsel for closing matters."

Zinus is a South Korean listed global manufacturer and distributor of mattresses and furniture, making more than 90 percent of its revenue from global sales. It is the first company to employ mattress compression technology for shipping to customers, and accounts for more than 30 percent of the US online mattress market.

The White & Case team in Seoul which advised on the sale was led by partner Dongho Lee and included associate Yoon Choi. The Firm's team advising on the antitrust aspects of the transaction is led by partners Rebecca Farrington (Washington, DC) and Tilman Kuhn (Düsseldorf & Brussels), and includes local partner Mathis Rust (Düsseldorf) and associate Daniel Rosenthal (Washington, DC).

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