ACCRALAW, DLA Piper and DivinaLaw advised on ALDI Süd Group’s (ALDI) acquisition of a minority stake in Philippines grocery retailer DALI Everyday Grocery (DALI) for an undisclosed amount.
DALI, which is owned by Switzerland-based DALI Discount, operates more than 1,300 stores nationwide. The retailer will continue to be independently managed following the investment.
ACCRALAW said the transaction involved both the acquisition of shares from existing shareholders and a subscription for shares in DALI Discount.
Working alongside DLA Piper, ACCRALAW acted as Philippine counsel to ALDI. Partners Elaine Patricia Reyes-Rodolfo and Dan Bernard Sabilala led the due diligence team, supported by senior associate Iris Gizelle Agus, and associates Bianca Ysabel Baluyut, Merielle Phoebe Tansiongkun and Ysabella Lebrilla.
Reyes-Rodolfo also headed the team advising on compulsory notification requirements with partner James Patrick Alojado. Senior associate Korina Ana Manibog and Tansiongkun provided additional assistance.
“In particular, we handled the due diligence on the Philippine entity, Hard Discount Philippines, Inc (which is part of the DALI Group) and assisted in the compulsory notification requirements under the Philippine Competition Act, obtaining the clearance from the Philippine Competition Commission (PCC),” Reyes-Rodolfo told Asia Business Law Journal.
Reyes-Rodolfo said ALDI’s market entry was a notable feature of the transaction.
“The transaction marked ALDI Süd Group’s entry into the Philippine market,” she said.
DLA Piper’s cross-border team was led by partners Benjamin Parameswaran, the firm’s international managing director for clients, and Christoph Dachner. They were assisted by partner Philipp Clemens, Cologne office managing partner Guido Kleve, counsel Sophie von Mandelsloh and associate Lukas Reitebuch.
Partner Semin O led a team that handled the antitrust and regulatory aspects of the transaction, while Switzerland-based law firm Thouvenin Rechtsanwälte dealt with Swiss legal matters.
DivinaLaw represented DALI in its merger notification before the PCC, with the team comprising managing partner Nilo Divina, senior partner Danny Bunyi, partner Ciselie Marie Gamo-Sisayan, senior associate Maria Isabella Rodriguez and associates Angel Isah Romero, Kara Ramos and Alaiza Adviento.
ALDI is a renowned international grocery retailer with more than 7,500 stores in 11 countries.
