24 June – LAWFUEL – The Law News Network – Linklaters previously advised Montagu Private Equity on the secondary LBO of Actaris in 2003
Linklaters has advised Montagu Private Equity on the sale of Actaris group to LBO France. Montagu announced the agreement for an undisclosed amount this week. The deal – a tertiary LBO – is unique in that LBO France once again becomes the majority shareholder of Actaris, one of the world’s leading meter manufacturers, with the balance held by the Actaris management. Montagu had previously acquired Actaris in a secondary buyout from LBO France in 2003 for EUR 420m, again advised by Linklaters. The primary LBO took place in 2001.
The deal is subject to the approval of the relevant competition authorities.
The Linklaters team was led by partner corporate partner Michel Frieh, in Paris. Other members of the team included: Paris – Vincent Ponsonnaille, Agnès Peschard and Michael Piccioloni (corporate); Anne Wachsmann, Nicolas Zacharie and Jérôme Nguyen (antitrust); Edouard Chapellier, Sen (tax); Kathryn Merryfield (banking); Luxembourg – Jean-Paul Spang, Laurent Schummer, Lionel Berthelet and Joelle Elvinger (corporate), Paul Tucinsky and Olympe Alexandre (tax); Lisbon – Maria Tavares de Pina; Warsaw – Jolanta Tropaczynska and Mariusz Laszczyk; Stockholm – Pontus Bergsten; Bucarest – Lucian Augustin Bondoc; London – Alan Walker.
Other advisers included: Mayer, Brown, Rowe & Maw (legal advisers to LBO France) and Allen & Overy (legal advisers to Mizuho Corporate Bank, Ltd, senior and mezzanine finance providers to the purchaser).