Linklaters has played a lead role in advising private equity investment group Apax Partners on the $1.7 billion acquisition of the value-clothing retailer, Takko Holding GmbH from Advent International.

While Linklaters advised Apax on aspects on English law, Wolf Theiss advised it on Austrian and Czech aspects of the due diligence.

Linklaters had fielded a team co-led by corporate partners Rainer Traugott and Stephan Morsch. The team comprised of banking, corporate, capital markets, employment, real estate, tax and intellectual property (IP) lawyers.

This has been the largest private equity investment in the German market in 2010 and a great success for the Apax team in a quite competitive auction, Traugott said.

While London-based corporate partner Carlton Evans provided UK law advice, Pieter Riemer had led a team from the magic circle firm's Amsterdam office advising on Dutch law.

Takko and its current owner Advent were jointly represented by German firm Hengeler Mueller and Benelux firm De Brauw Blackstone Westbroek. Slaughter and May advised Advent on English law aspects.

Takko, founded in 1982, operates approximately 1,500 branches in 15 European countries and employs about 12,500 people. It was acquired by Advent from the private equity house Permira in August 2007.

Takko offers attractive fashion at affordable prices and is exceptionally well positioned to benefit from the above average growth of the value segment of the fashion market, said Christian J. Nather, partner at Apax Partners.