HEMA B.V. and the Ad Hoc Group reached a conditional agreement with a 50/50 consortium of Parcom and Mississippi Ventures for the contemplated sale of 100% of the outstanding shares of HEMA B.V. The consortium now has an exclusivity period of up to eight weeks in which it can complete further due diligence and obtain financing from Dutch financial institutions. An update on the transaction is expected in the first half of December. Mississippi Ventures was advised by Allen & Overy, Parcom was advised by Clifford Chance and HEMA B.V. was advised by De Brauw Blackstone Westbroek.

Loyens & Loeff acted as Dutch and Luxembourg counsel to the Ad Hoc Group. The transaction was led by Dutch corporate partner Roel Fluit, together with corporate partner Antoinette van der Hauw and senior associate Gerda de Jong, the team furthermore consisted of restructuring partner Vincent Vroom, senior associate Joris Dunki Jacobs and associates Gief de Gruijter and Kim de Bruijn. The Luxembourg team was headed by corporate partners Michael Scott and Frédéric Franckx with associates Diogo Morgado Filipe and Madeleine Marques and tax advisor Charlotte Haarsma – Den Dekker.