Norton Rose Fulbright advises underwriters on Frasers Group’s Hugo Boss acquisition financing

Norton Rose Fulbright advised underwriters, BNP Paribas, Deutsche Bank Luxembourg S.A., National Westminster Bank plc and Standard Chartered Bank, on the acquisition financing made available to Frasers Group in connection with their voluntary takeover offer for Hugo Boss AG.

On June 11, 2026, Frasers Group, the UK-listed retail and investment group whose portfolio includes Sports Direct, House of Fraser and Flannels announced a cash offer of €38.00 per share for the approximately 73.94 percent of Hugo Boss shares it does not already own, valuing the targeted stake at approximately €1.98 billion. The offer is being made under the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz - WpÜG) and is subject to approval from the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and applicable merger control clearances.

The team was led by banking and finance partner Neha Khosla with support from senior associate Grace Carpenter and associates Gerald Tan and Kunzang Nathan. The wider deal team also included German corporate counsel Oliver Polster.

Chris Wootton, Frasers' Chief Financial Officer commented:

"This transaction represented a significant milestone for our business and involved a highly complex, multi-jurisdictional financing structure. Throughout the process, the Norton Rose Fulbright team provided exceptional support, combining deep technical expertise with a practical, commercial approach. Their ability to anticipate challenges and deliver clear, timely advice was instrumental in helping us achieve a successful outcome."

Neha Khosla commented:

"We are delighted to have advised the underwriters on this significant transaction, supporting Frasers Group's takeover of Hugo Boss. The transaction reflects the strength of our banking and finance practice and our experience advising on complex, multi-jurisdictional financings."