Clément Delaruelle focuses his practice on strategic mergers and acquisitions, with significant experience on private and public M&A transactions. He regularly advises large industrial groups, listed companies, financial sponsors (including private equity investment funds and financial institutions), on their acquisitions (including takeover and take-private transactions), disposals, joint ventures and reorganizations. He also assists French listed issuers or their shareholders on strategic governance issues (including disclosures) and on equity capital markets transactions (issuance of equity or equity-linked instruments and IPOs). Clément advises on transactions across diverse industries, including consumer and retail, healthcare and life sciences, automotive, infrastructure, energy, and sports and entertainment.
Experience
All matters completed prior to joining Ropes & Gray
Mergers and Acquisitions
- Pernod Ricard:
- On its acquisition of the rosé wine Château Sainte Marguerite, Cru Classé Côtes-de-Provence and subsequent successive build-up acquisitions in the rosé wine business
- On its joint venture investment in White Oak alongside Charlois et Compagnie
- International Beverage on its acquisition of Larsen Cognac from the Anora Group
- Europcar:
- On the disposal to Daimler of its shareholding in the joint venture Car2go
- On the acquisition of Fox Rent A Car Inc. and Fox Reservation Inc., the independent U.S. car rental group
- On the acquisition of Goldcar from Investindustrial
- Perenco on the acquisition of a 35% stake in Rougier Afrique International from Caisse des Dépôts et des Consignations du Gabon, and its strategic partnership with Rougier SA
- Reden Solar on the sale of a minority stake in Reden Territoires to Caisse des Dépôts et Consignations and the strategic partnership with CDC (investment platform dedicated to 900 MW renewable energies)
- Arjun Infrastructure Partners on its acquisition of a minority stake in Altitude's FttH business
- Quaero Capital on the disposal of wind farm portfolios
- Brookfield on the acquisition of a majority stake in Neoen from Impala and other shareholders and the subsequent mandatory tender offer
- Proxima (backed and financed by Antin Infrastructure Partners) on the launch of a new high-speed rail operator in France
- LFP Media, the commercial subsidiary of LFP, jointly controlled by LFP and CVC Capital Partners, on the sale of the broadcasting rights of the Ligue 1 and Ligue 2 championships for the seasons 2024/2025 onwards
- Axel Springer on the disposal of a majority stake in Groupe La Centrale to Providence Equity Partners
- Ipsen on the internal corporate reorganization of its activities and the separation of the consumer healthcare and specialty care business activities
Equity Capital Markets
- Exclusive Networks and Permira, as principal selling shareholder, on the IPO and Euronext Paris listing of Exclusive Networks
- Ayvens (formerly ALD) and Société Générale, as selling shareholder, on the IPO and Euronext Paris listing of Ayvens
- GE Aerospace on the voluntary delisting of GE common stock from Euronext Paris
- BNP Paribas, Crédit Agricole Corporate and Investment Bank, HSBC, Natixis and Société Générale on Safran’s offering of bonds convertible into new shares and/or exchangeable for existing shares (OCEANEs)
- Dongfeng and BNP Paribas on the accelerated bookbuild offering of shares in the capital of Stellantis
- Nicox on several share capital increases (private placement)
- Apax Partners on the €222 million offering of shares in Altran Technologies by Altrafin Participations and certain founding shareholders
- PrimaryBid on the launch of its fintech platform in France, in partnership with Euronext
- The group holding company for P2C Investissements on the offering of shares representing 20% of the share capital in Solution 30 by P2C Investissements and certain shareholders
- Pierre et Vacances on its offering of net share settled bonds convertible into new shares and/or exchangeable for existing shares (ORNANEs)
Private Equity
- PAI Partners
- On the acquisition of Asmodee group from Eurazeo
- On the acquisition of B&B Hotels group from Carlyle
- Partners Group on several bid transactions