ABN Amro led the public to private takeover of De Dietrich & Cie, one of the oldest manufacturing companies in France and listed on the premier marché. This is the latest in a series of big financings and one of the rare public to private takeovers in France. Traditional French firms Gide and Jeantet took up the major roles on senior debt and equity respectively, but Ashursts’ Paris office worked on the mezzanine layer.
Ashursts has a nice little debt finance practice running out of Paris, with three partners and six assistants – one of the biggest in France. Intermediate Capital Group is a long-term client of the firm, and in the last year the French office – in particular partners Laurent Mabilat and Jonathan Nabarro – have been doing regular work.
Senior debt provider Natexis is also a client, but Ashursts was not invited to advise and Natexis went to its other firm Gide. In March, Laurent Mabilat led a team acting for Crédit Agricole Indosuez (senior debt) and Intermediate Capital Group (mezzanine) in the financing of the acquisition of Frans Bonhomme by Paribas Affaires Industrielles, Cinven and Astorg.