Paris Office Advises PAI on $1 Billion Pending Sale of Kwik-Fit

March 9, 2011

Willkie advises on French legal aspects of PAI partners’ pending sale of Kwik-Fit Group Ltd. to Japanese trading house Itochu Corp.

Japanese trading house Itochu Corp. recently announced its pending acquisition of U.K. automotive repair company Kwik-Fit Group Ltd. from funds managed by Willkie client PAI partners for approximately $1 billion (£637 million). Kwik-Fit, also known under the brand Speedy in France, specializes in automotive parts repair and tire sales with 1,220 repair centers in France, Holland and the UK. The transaction is subject to the approval of the antitrust authorities, as well as other required authorizations.

Willkie advised PAI partners, a leading European private equity firm, on French legal aspects of the deal. The transaction was handled by partner Cédric Hajage and associates Karine Lenczner and Alexandre Riou. Willkie alliance partner Dickson Minto was lead counsel to PAI partners.