CMS Bureau Lefebvre is acting as advisor to 21 Centrale Partners’ holding companies in its with Promeo. The combination of Promeo’s Village Center (Village Center Loisirs, Kawan Group and Le Gain) and 21 Centrale Partners’ Vacances Directes will create a leading player in the campsite sector.
Under the terms of the memorandum of understanding, 21 Centrale Partners will hold a 55% interest in the new company, with Promeo and management holding 43% and 2%, respectively.
The transaction is expected to be completed in early August, once anti-trust approval has been obtained and the other conditions precedent have been fulfilled.
The combined entity will manage 38 campsites, 19 of which will be owned by the company, offering a total of some 20,500 pitches and 13,500 mobile homes.
Following the transaction, Promeo will focus primarily on the development and sale of residential property, offices and the management of tourist residences, in addition to holding a stake in the new entity created with 21 Centrale Partners.
The 21 Centrale Partners holding companies are being advised on the legal issues of the transaction by CMS Bureau Francis Lefebvre, with partners Christophe Blondeau andPhilippe Rosenpick and lawyers Emmanuelle Brunel, Cécile Sommelet, Thomas Hainsand Cécile Leclerc advising on corporate/M&A aspects; partner Laurent Hepp and lawyersPierre Sappey and Florian Aymard advising on tax aspects; partner Denis Redon and lawyer Virginie Coursière advising on anti-trust aspects; and lawyer Grégory Benteux, head of structured debt and finance, and lawyer Alexandre Bordenave advising on structured debt and finance aspects.
Promeo is being advised by De Pardieu Brocas Maffei, with partners Thierry Brocas and Nicolas Favre, and lawyers Frédéric Keller and Grégoire Balland advising on corporate/M&A aspects.
