Baker McKenzie has advised Qatar Luxury Group, majority shareholder of Le Tanneur & Cie, a company listed on Euronext Paris, within the framework of the plan to recapitalise and develop Le Tanneur & Cie, supported by Tolomei Participations, for an amount of 13.3 million euro, which will make Tolomei Participations the majority shareholder of Le Tanneur & Cie.

 This recapitalisation and development project consists in three principal operations:

  • a first increase in capital in cash for 10.8 million euro which will be reserved for Tolomei,
  • a simplified public tender offer initiated by Tolomei, and
  • a second increase in capital in cash with the maintenance of the preferential subscription right, for an amount of 2.5 million euro.

The leather goods group, Le Tanneur & Cie, thanks to its one hundred years of know-how, is one of the principal actors in the French leather goods sector, with 551 employees and a turnover of 53.8 million euro. The Group creates, manufactures and distributes two brands: Le Tanneur and Soco. It has a network of around fifty shops in France and abroad, 89 in-store concessions in department stores, a website and a network of more than 300 multi-brand retailers. 
Tolomei Participations was set up in 2004. Tolomei Participations is the holding company at the head of the Tolomei Group, one of the French leaders in fashion accessories and leather goods. A French manufacturer for various brands (French and foreign), the Tolomei Group has also developed expertise in brand management. 
Baker McKenzie advised Qatar Luxury Group with Eric Lasry, partner, François Xavier-Naime, partner, and Giuliano Lastrucci, associate, on corporate matters, and with Jérémie Paubel, partner, on labour law aspects.
On its side, Tolomei Participations was advised by Degroux Brugère with Augustin Fleytoux, partner, and Cannelle Magdane, associate.

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