Elior Group Received a €1.542 Billion Binding Offer from PAI Partners for the Acquisition of Areas

May 7, 2019

Willkie advised Elior Group, one of the world’s leading operators in contract and concession catering and support services, in its discussions which led to the €1.542 billion binding offer from PAI Partners for the acquisition of Areas.

On April 24, Willkie client Elior Group announced that it has received a binding offer from PAI Partners for the acquisition of its concession catering operations grouped within its Areas subsidiary representing an enterprise value of €1,542 million. In the coming weeks, Elior Group will conduct the required information-consultation procedure with the Group’s employee representative bodies. The closing of the operation would be subject to the usual conditions precedent associated with this type of transaction. The deal is expected to close during summer 2019.

Employing 23,000 people in 13 countries, Areas generated €1,832 million in revenue in fiscal 2017-2018. Elior Group, one of the world’s leading operators in contract and concession catering and support services, operates in 15 countries around the world. PAI Partners is a leading European private equity firm.

The Willkie deal team was led by partner Cédric Hajage in Paris and included national partner Grégoire Finance, special European counsel Jeffrey Fouts and associate Hugo Nocerino.