Allen & Overy advises Apax Partners on the acquisition of Ardian’s majority shareholding in Opteven, a European leader in mechanical breakdown, assistance, and vehicle maintenance insurance and services.
Operating in the five largest European automotive markets, comprised of France, Spain, United Kingdom, Germany and Italy, and currently operating in nine countries in total, the Opteven group has doubled its revenues every five years since it was founded in 1985.
With Apax Partners as shareholder, the Opteven group seeks to accelerate its international development, namely by pursuing continued external growth to strengthen its position as European leader. With this new investment, Apax consolidates its expertise in financial services, following the one in the Independent Financial Advisors’ leader Crystal Group two years ago.
The transaction remains subject to the approval of the ACPR and the FCA, as well as the French competition authority.
The Allen & Overy Paris team is led in Paris by Romy Richter (Partner), with Pauline Régnier (Senior Associate), Timothé Drezet (Associate) and Alexia Monne (Associate) on corporate aspects.
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