Linklaters has advised its long standing client Steinhoff, the household retailer, on its listing on the Frankfurt Stock Exchange.

With a market capitalisation of €18.6bn, it is the largest prime standard listing in Germany this year, as well as the country’s largest listing since 2000.

The listing was implemented by way of a South African Scheme of Arrangement, under which Steinhoff International NV acquired the entire issued share capital of Steinhoff International Holdings listed on the Johannesburg Stock Exchange on the basis of an exchange ratio of 1:1. Steinhoff NV has also obtained a secondary listing on the Johannesburg Stock Exchange.

Steinhoff is a leading retailer manufacturing, sourcing and retailing furniture, household goods and general merchandise in Europe, Australasia and Africa. The company – which has more than 40 brands, 6,500 shops and employs more than 90,000 people - generates over 60 per cent of its revenues from Europe and is currently the second largest household goods retailer in Europe by revenue.

The Linklaters team – which involved lawyers from the firm’s London, Amsterdam and Frankfurt offices – was led by corporate partners Charles Jacobs (London) and Pieter Riemer (Amsterdam) and capital markets partner Marco G. Carbonare (Frankfurt) and capital markets counsel Alexander Harmse (Amsterdam).

This is the third significant South African related deal advised on by Linklaters this quarter, with the firm also being involved in advising:

   * SABMiller on its proposed £71bn acquisition by AB InBev; and
   * Aquarius Platinum on its recommended offer by Sibanye Gold

For further information please contact Rupert Winlaw on +44 (0)20 7456 3219