Wineus has advised a European subsidiary of South African domiciled and stock listed Steinhoff International (together “Steinhoff”) on the disposal of Lipo Einrichtungsmärkte to XXXLutz
The disposal of Swiss retailer Lipo to the Austrian XXXLutz Group was recently announced. The transaction is still subject to merger control clearance by the respective authorities.
Lipo operates 23 furniture stores as well as an online shop in Switzerland offering a comprehensive assortment of stylish and affordable furniture. With about 600 employees, Lipo ranks amongst the five biggest furniture retailers in Switzerland.
XXXLutz Group already operates various furniture concepts under different brands in Switzerland. They will continue to run Lipo under its own brand as a discounter.
Wineus has advised Steinhoff as lead advisor throughout the entire sellside process.
