CMS has advised METRO AG, one of the largest retail groups in the world with an annual turnover of more than EUR 60 billion, on the acquisition of a minority stake in Silver Ocean B.V., which is more widely known as iBOOD. A capital injection by METRO to iBOOD forms part of the transaction.
iBOOD is based in Amsterdam (with subsidiaries in Germany and Poland) and active in the online sale of electronics and other goods, via short-time offers. It is one of the most popular Dutch sales sites and lastly realized an annual turnover of approx. EUR 30 million.
The METRO group is active in more than 30 countries and has more than 280,000 employees worldwide. Its portfolio includes electronics stores Media Markt and Saturn, as well as Makro, Real and of course METRO.
Corporate partner Roman Tarlavski led the team comprising Christian Delgado, Arne van Bijnen, Abbas Ali Hyder, Martijn van der Bie, Irthe Goudriaan, Simon Sanders, Wouter Seinen, Barbara Veldmaat, Fleur Assendelft de Coningh, Paulus van den Bos and Priamo Boi.
Klaus Jäger and Richard Mayer-Uellner (CMS Cologne) advised on German-law aspects.