PARIS — Allen & Overy advised Société Générale on the acquisition of Apeejay Finance, a company specialising in consumer credit. The transaction was carried out in conjunction with the Burman family (investors based in Calcutta) and will give Société Générale and the Burman family a 75% stake in Apeejay Finance. Apeejay Surrendra Group, will retain 25% of the shares. The transaction is subject to the Indian authorities’ approval.
Created in 1993 and specialising in car loans and consumer credit businesses, Apeejay Finance manages more than €100 million of outstanding discounted bills and employs 166 people in 18 agencies located in the major population centres of the country.
Allen & Overy’s Paris team worked with Bruno de Bouillane at the International Legal Office of Société Générale, and was led by counsel Gildas Louvel, with assistance from associate Kamal Rhazali (M&A). The team also collaborated with Desaï law firm on local aspects of the deal.
Partner Jean-Claude Rivalland, said: “We are delighted to continue to advise Société Générale on its international development, having advised them on the acquisition of Eurobank in Poland and on the Komerční Banka privatisation in the Czech Republic.”