TPG sold Bally to Labelux Group

US private equity fund TPG (formerly Texas Pacific Group) sold Bally International AG to European luxury goods holding company Labelux which is owned by family-controlled Joh. A. Benckiser SE for an undisclosed amount. The transaction closed on June 12, 2008.

TPG was advised by Cleary Gottlieb as lead counsel and Lenz & Staehelin who acted as Swiss counsel. Lenz & Staehelin's team comprised Rudolf Tschäni and Tino Gaberthüel.