January 28, 2004
Willkie client Paris-based buyout firm PAI Partners enters into final round of negotiations to acquire a controlling 68% stake in French retailer Vivarte SA.
On January 28, it was reported that Willkie client Paris-based buyout firm PAI Partners entered into a final round of negotiations to acquire a controlling 68% stake in French retailer Vivarte SA. The €1.24 billion ($1.55 billion) deal would provide an exit for a group of value investors who accumulated stakes in Vivarte over the last five years. Goldman Sachs & Co., hired by the investors to locate a buyer for their share, brought PAI in on the deal. The January 28 edition of The Daily Deal reports that a Willkie team led by Paris partner Daniel Payan is advising PAI on the transaction. The deal has also been widely covered in the French press.