- Paul Hastings LLP, a leading global law firm, announced today that it advised Insert, a leader in city centre outdoor advertising, on its MBO. Fortellus sold control of Insert to the management team led by its Chairman and CEO, Frédéric dAssigny and to Sébastien Romelot, a former investment banker with Lazard.
Paul Hastings advised Insert, handling a pre-packaged sale subject to the opening of the safeguard proceeding (called a procédure de sauvegarde in French), which is a first in France.
The investment was made through a capital increase and a debt restructuring making the acquisition possible. The conclusion of this proceeding, through approval of a reorganisation plan (called a plan de sauvegarde in French), should occur within the next few months.
Restructuring partner, Lionel Spizzichino
led the Paul Hastings team, assisted by Julie Kappler-Rivet
. Paul Hastings LLP is a leading global law firm with offices in Asia, Europe and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.