Sidley Represents Coupang in its Successful Acquisition of Farfetch

Sidley represented Coupang, Inc. (Coupang), one of the world’s leading global retailers, in the completion of its acquisition of the business and assets of Farfetch Holdings plc (Farfetch), in a rescue deal through an English pre-pack administration process. Farfetch is a leading global marketplace for the luxury fashion industry.

Coupang and certain funds managed and/or advised by Greenoaks Capital Partners, LLC (Greenoaks) had previously entered into a US$500 million bridge loan facility and a transaction support agreement with the Farfetch group in December 2023. This was done through a newly formed joint entity, Surpique LP, a Delaware limited partnership (formerly known as Athena Topco LP).

The cross-jurisdictional team was led by partners Martin A. Wellington (M&A and Private Equity), Mark Knight (Restructuring), and Karen Goldstein (Global Finance), and senior managing associate Dhevine Chandrapala (Restructuring) alongside partners and teams from across several practice areas and offices, including:

• Restructuring (London): partner Jifree Cader, senior managing associate Dhevine Chandrapala, managing associate Luke Mason, associate Hannah Murray, and trainee solicitor Doris Beganovic;
• Global Finance (Dallas and London): senior managing associate Adam M. Nelson, managing associate Kendra Smith, and associates Henry Sasse and Chase M. Rowland;
• Corporate (Dallas and London): partners Ryan M. Scofield, Adam Runcorn, and Courtney J. Gilberg, senior managing associate Zoe Woodhouse, and associates Molly K. Byman, Jessica Edwards, and Stanley Amoah;
• Tax (Palo Alto and London): partners Jason Menzies and Rachel D. Kleinberg, and managing associate Ellie Verran;
• Litigation (New York): partner James Heyworth; and
• Antitrust and Competition (Washington, D.C. and Brussels): partners Ken Daly and Vadim Brusser, and associate Iva S. Todorova.