TCC Group acquires €3.1 billion stake in Big C Supercenter stake disposal

Overview:

• Thai conglomearte TCC Group has acquired a €3.1 billion stake in Big C Supercenter from French mass retailer Groupe Casino.
• The transaction would see Casino selling a 59% stake in Bangkok-listed Big C, which has a market capitalisation of nearly €4 billion. It operates more than 700 stores in Thailand, including 125 hypermarkets, with revenue of €3.4 billion last year.
• The deal is expected to be completed by the end of March. 
• TCC has operations in the retail, commercial and industrial business, food and beverage, finance and insurance, property and real estate, agricultural and agro industrial sectors. The group will have to initiate a mandatory tender offer for the remaining share capital of Big C.
• Darrois Villey Maillot Brochier advised Casino with partners Bertrand Cardi, Ben Burman, Laurent Gautier and Christopher Grey acting on the M&A aspects and Martin Lebeuf advising on financing.
• The law firm had advised the group in 2010 on the acquisition by Big C of Carrefour’s operations in Thailand. The firm also advised Casino on other transactions in France and Latin America.
• Casino was also advised by Linklaters on French law aspects, Linklaters and Chandler & Thong-ek on Thai law aspects and NautaDutilh on Dutch law aspects.