Value: $80 million

Area: M&A

Key players: The K&L Gates team was led by corporate and transactional partner Hal Lloyd (pictured) and included senior associate Brent Delaney.

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The Ashurst team was led by corporate partner Anton Harris.

Deal significance: ASX-listed fashion company Noni B Limited (Noni B), which is controlled by Alceon Group, recently acquired Pretty Girl Fashion Group from Consolidated Press Holdings.

The acquisition is valued at approximately $80 million and will result in Noni B becoming one of the largest specialty apparel retailers in Australia.

“The acquisition involves a mixture of upfront cash, deferred consideration based on revenue targets and shares representing approximately 10 per cent of the enlarged group,” K&L Gates lead partner Hal Lloyd said.

“The cash component will be funded by debt and an equity raising, structured as a non-renounceable accelerated entitlement offer underwritten by Alceon Group. We are pleased to be assisting Noni B achieve a successful result.

The deal was signed on 2 August and is expected to be completed in early September.