Paul Hastings Advises on the MBO of Insert
May 10, 2012
Paris, France - 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.
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