The European law firm Noerr has provided comprehensive advice on the sale of the eCommerce platform Daraz, a market leader in countries including Pakistan, Bangladesh, Myanmar, Sri Lanka and Nepal, to Alibaba.
The investors selling Daraz include Asia Pacific Internet Group (APACIG), a joint venture between the listed company Rocket Internet SE and the telecoms group Ooredoo (Qatar), which is likewise a listed company, the British sovereign wealth fund CDC, and the Tengelmann Group.
Prior to closing, the group was restructured across several jurisdictions under the lead of a Noerr team headed by the private equity partners Sascha Leske and Steve Zehden (both New York). Noerr collaborated on US law issues with the leading New York law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP. Numerous local legal counsels were involved and coordinated by Noerr (including Tricor WP in Singapore, Afridi & Angell in Dubai, Mohsin Tayebaly & Co and Fazleghani Advocates in Pakistan, Mak & Co in Bangladesh, Allen & Gledhill in Myanmar, Neupane Law Associates in Nepal, and Nithya Partners in Sri Lanka).
