Philippi Prietocarrizosa Ferrero DU & Uría has acted as legal advisor to Jokr S.a.r.l. (Luxembourg company) and Jokr Services GmbH (German company), in the sale of 100% of its stake in Jokr Peru in favour of Chelsea National Corp. subsidiary of InRetail Peru Corp.
This transaction was signed and closed on 6 February, with Legal Scale advising Jokr in conjunction with PPU, while Paul Hastings acted as counsel to the buyer in New York and Germany, and Payet Rey Cauvi Pérez Abogados, as local counsel to the buyer in Peru.
As the parties agreed on the relevant commercial terms of the transaction, the process of closing the agreements required an exhaustive and expeditious negotiation of a few days, during which the share purchase agreement, an escrow agreement, a brand transfer agreement, a technology services agreement and other related agreements were concluded. These documents are in some cases subject to the laws of the State of New York and in other cases subject to the laws of Germany or subject to the laws of Peru. The advice also included labour and tax planning for the transaction.
Jokr Peru is a Peruvian online supermarket that operates through an instant delivery app. The company started operations in April 2021, seeking to revolutionise digital supermarkets.
PPU’s team was led by partners Guillermo Ferrero (pictured left) and Lidia Vilchez (pictured right), with support from director Johana Timana, senior associate Víctor Abad and associates Jacqueline Febres and Renato Manrique.