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Apax Partners completes buying of apparel retailer rue21
12
Oct '13
rue21, inc., a leading specialty apparel retailer of girls and guys apparel and accessories, and Apax Partners, a global private equity firm, announced the completion of the acquisition of rue21 by funds advised by Apax Partners for $42.00 per share in cash.

As previously announced, the transaction was approved at a special meeting of stockholders held on September 19, 2013. Pursuant to the terms of the merger agreement dated May 23, 2013, funds advised by Apax Partners have now acquired all of the outstanding shares of rue21. As a result, rue21 stock will cease trading on the NASDAQ Stock Market effective.

Stockholders will not have to take any action to receive the merger consideration, as the exchange of their shares for the merger consideration will be handled by the bank or broker.

Perella Weinberg Partners acted as financial advisor to the Special Committee of the rue21 Board of Directors. Kirkland & Ellis LLP and Potter Anderson & Corroon LLP acted as legal advisors to the Special Committee. J.P. Morgan Securities LLC (lead advisor), BofA Merrill Lynch and Goldman Sachs provided financial advice to Apax.

Committed debt financing for the transaction is being provided by BofA Merrill Lynch, J.P. Morgan and Goldman Sachs. Simpson Thacher & Bartlett LLP and Richards, Layton and Finger, P.A. acted as legal advisors to Apax Partners. Ropes & Gray LLP acted as legal advisor to the SKM funds.

About rue21, inc.

rue21 is a leading specialty apparel retailer offering exclusive branded merchandise and the newest trends at a great value. rue21 currently operates 982 stores in 47 states.

About Apax Partners

Apax Partners is one of the world's leading private equity investment groups. It operates globally and has more than 30 years of investing experience. Funds under the advice of Apax Partners total over $40 billion. These Funds provide long-term equity financing to build and strengthen world-class companies.

rue21


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